Fair Market Value? Home prices are market driven. You have to work with a realtor to give you recommendation with regard to a reasonable offer. Prices are determined by the recent sold similar homes in the area within a certain distance of the subject property.
The tax assessed value does not have any bearing on the current market value of homes. This is a value set by the town for tax purposes only. It is normally a set percentage of the town's appraised value which is not a true representation of the on-going market value of homes.