Which of the following is NOT a component of market value?

The concept of market value is understood in the context of several key components that ensure a fair assessment of a property's worth. Among these critical components, one aspect is that the property must be exposed on the market for a reasonable period, allowing potential buyers to consider and make informed decisions regarding the purchase. This exposure helps obtain a true reflection of the property's value based on comparable sales and market conditions.

Another important component is the stipulation that both the buyer and seller are not under any duress. This ensures that the transaction is voluntary, enabling a fair exchange without undue pressure, which is essential for establishing an accurate market value.

Clear of all minuses or encumbrances is also integral to market value. A property encumbered by liens or obligations would not reflect its true value, as these encumbrances can adversely affect a buyer's willingness to pay a premium for the property.

However, the notion that the property has been actively marketed for over a year is not a standard component of market value. While prolonged marketing can sometimes indicate issues with the property or mispricing, it does not conform to the core definition of market value, which is based on reasonable exposure time rather than a specific timeframe. Therefore, this aspect does not align with the foundational principles