Just Value (aka Just/Market Value) - The Florida Administrative Code Rule 12D-1.002(2), defines just value as "The price at which a property, if offered for sale in the open market, with a reasonable time for the seller to find a purchaser, would transfer for cash or its equivalent, under prevailing market conditions between parties who have knowledge of the uses to which the property may be put, both seeking to maximize their gains and neither being in a position to take advantage of the exigencies of the other."

It is important to understand that the current tax year Market Value is based on the condition of the property and market conditions as of January 1, and is established by analyzing market information, including sales that took place in the prior year. The current tax year is listed in the data headings on each property information page.