Thank you for supporting Silver City Gospel Mission through your donations of clothing, household goods, furniture, appliances, and other items. Many donors ask how to determine the value of donated items for tax purposes.

What Is Fair Market Value?

According to the IRS, Fair Market Value (FMV) is the price an item would sell for on the open market between a willing buyer and a willing seller, with both parties having reasonable knowledge of the relevant facts and neither being required to buy or sell.

In simple terms, FMV is generally what someone would pay for the item in its current condition at a thrift store, garage sale, online marketplace, or similar secondhand setting—not what the item originally cost when new.

Important Information for Donors

Silver City Gospel Mission does not assign values to donated items. The donor is responsible for determining the fair market value of all donated property and for maintaining records needed to support any charitable deduction claimed on a tax return.

Factors that may affect an item's fair market value include:

• Age and condition

• Quality and brand

• Current demand

• Original cost

• Comparable sales of similar used items

• Local market conditions

Items should generally be in good used condition or better to qualify for a charitable deduction.

Suggested Fair Market Value Ranges

The following ranges are intended only as a general guide. Actual values may vary depending on condition, age, quality, and market demand.

Clothing

Household Goods

ItemTypical FMV RangeDishes (per set)$5 – $30Pots and Pans