Property Valuation
In South Carolina, the 'market value' of a property differs from 'market price' in that:
AThey are identical in all cases
BMarket value is an estimate; market price is the actual transaction price✓ Correct
CMarket price is always higher than market value
DMarket value is set by the county assessor
Explanation
Market value is an appraiser's estimate of what a property should sell for under normal conditions. Market price is the actual price paid in a specific transaction, which may differ from market value.
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