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Assessment and Taxation

Annual Rental Value (ARV)

What is annual rental value?

The Annual Rental Value, or ARV, is the amount for which the space your business occupies will typically rent. The ARV does not necessarily equal the rent actually paid for the space; it is representative of prevailing rents for similar space in the rental market.

The ARV is equal to the net rent per square foot (derived from market transactions) plus the costs of comfortable occupancy, multiplied by the square foot area of the premises occupied. Occupancy costs include the estimated cost of providing heat and other services necessary for the comfortable use or occupancy of the premises.

Finding business assessment information

You can search for detailed business assessment information including premise area, occupancy cost breakdown, and other details that are part of the calculation of Annual Rental Value.