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SWORN STATEMENT OF ASSETS, LIABILITIES AND NET WORTH As of December 2015 (Required by R.A. 6713)Note: Husband and wife who are both public officials and employees may file the required statements
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How to fill out current fair market value

01
Determine the purpose of calculating the current fair market value.
02
Gather all relevant information about the asset or property being valued.
03
Research and analyze comparable sales and market trends for similar assets or properties.
04
Assess any unique characteristics or factors that may affect the value.
05
Apply appropriate valuation methods such as the cost approach, income approach, or market approach.
06
Consider any legal or regulatory guidelines that may impact the valuation process.
07
Calculate the current fair market value based on the chosen valuation method.
08
Document and report the findings in a clear and concise manner.

Who needs current fair market value?

01
Real estate professionals and appraisers who need to determine property values for buying, selling, or financing purposes.
02
Investors who want to assess the worth of their assets before making investment decisions.
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Insurance companies that need to determine the replacement cost or coverage limits for insured properties.
04
Tax authorities who require fair market values for assessing property taxes or determining capital gains taxes.
05
Financial institutions and lenders who use fair market values to evaluate loan collateral.
06
Estate planners and executors who need to establish the value of assets for inheritance or estate tax purposes.

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CURRENT FAIR MARKET VALUE template instructions

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Current fair market value is the price at which a property would change hands between a willing buyer and a willing seller.
Taxpayers who own certain types of property or assets may be required to report the current fair market value.
To fill out current fair market value, taxpayers typically need to provide specific details about the property or asset, including its current value.
The purpose of current fair market value is to ensure that taxpayers are accurately reporting the value of their assets for tax purposes.
Taxpayers must typically report details about the property or asset, such as its description, location, and current value.
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