The correct answer would be option B, A percent of its assessed value.
The market value of a property is A percent of its assessed value.
Explanation:
Market value is basically an estimate, an opinion, about the percentage price of the fair value of the property or anything.
When estimates and opinions are made about the selling price of the property in the competitive market, actually the Market value of that property is assessed. The market value of the property is assessed on the following criteria:
- benefits and features of the property
- overall situation of the real estate market
- supply and demand of the properties
- value of the similar properties in the current situation
On the basis of the above criteria, the market value of the property is assessed.
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Answer:
An absolute monarchy is one in which the king is God's representative on Earth, giving him absolute power that's free from all restraints. He created a centralized state that gave him complete power over the French government. King Louis XIV was an absolute monarch because he answered only to God.
