What is one of the eight criteria used by tax assessors to determine FMV?

Zoning is indeed one of the eight criteria used by tax assessors to determine Fair Market Value (FMV). Zoning refers to the regulations set by local governments that dictate how land can be used in specific areas. These regulations can greatly affect property values because they determine the type of development that is permissible, such as residential, commercial, or industrial uses.

For instance, a property located in a zone designated for commercial use may have a higher value than a similar property in a residential zone, as the potential for generating income from commercial activities tends to attract higher valuations. This consideration is critical for tax assessors because it helps them evaluate the highest and best use of a property, a fundamental aspect of determining FMV.

The other options, while they may have some relevance to property values, do not have the same direct and established role in tax assessments as zoning does. Community feedback, length of ownership, and popularity of an area can influence perceptions of value but are not standardized criteria employed by assessors in the same systematic way that zoning regulations are.