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New Member
posted Apr 10, 2025 11:59:58 AM

How do you calculate "Fair Market Value" of your rental asset when renting just a room in your house?

I rent out 30% of my house. Do I take 30% of the total house value for the "fair market value" of my rental property?

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1 Replies
Expert Alumni
Apr 10, 2025 3:02:10 PM

Yes, if you rent out 30% of the square footage of your home, the fair market value of that portion is 30% of the assessed value of the entire home.