What is a GRM?

A GRM is a Gross Rent Multiplier, or a ratio of sale price to rent.

Gross Rent Multiplier: Sale Price / Rent = GRM.

Rent * GRM = Assessed Value

 An example would be:    521 Market St. sold for $35,000 in 2011 and currently rents for a market rent of $500. The annual GRM for this property would be $35,000 / 500 = 70 or a monthly GRM of: ($35,000/500)/12=5.83.

Show All Answers

1. My property is assessed as a rental and the value continues to increase. Why?
2. How do I get a rental deduction?
3. What is a GRM?
4. Why do I need to provide my income information?
5. I feel the value is too high. What can I do?
6. I purchased a property for a family member to live in, and they do not pay rent. Does my property qualify?
7. Why are there different GRM’s throughout the county?