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Annual Report for Roswell Park Cancer Institute Corporation Fiscal Year Ending: 03/31/2020Personal Property Disposal 1. Property Description Estimated Fair Market Value How was Fair Market Value Determined?
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Gather all relevant data related to the fair market value of the property or asset.
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Use established methods such as market analysis, income approach, or cost approach to determine fair market value.
03
Consider factors such as location, condition, demand, and comparable sales when determining fair market value.
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Document the process and rationale behind the fair market value determination.
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Review and adjust the fair market value as necessary based on new information or changes in the market.

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Fair market value is the price that a willing buyer would pay to a willing seller in a free market.
Anyone who owns property or assets that need to be valued at fair market value for tax or financial reporting purposes may be required to file a fair market value report.
To fill out a fair market value report, you will need to gather information about the property or assets being valued, research comparable sales or prices, and calculate the fair market value based on this information.
The purpose of determining fair market value is to accurately assess the worth of property or assets for various purposes such as taxation, accounting, insurance, or legal proceedings.
The report must include a description of the property or assets being valued, the methodology used to determine fair market value, and any relevant market data or comparables.
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