A value and price are close concepts coming from the theory of economics. However, they cannot be treated in the synonymous way. The value of a property in the context of its transaction price represents the meter of the objective market characteristics of a property that is expressed in money. The transaction price, however, constitutes the resultant of the determined market value of the property with objective market characteristics of a property and subjective negotiating characteristics of participants in transactions.
The dissertation constittues the next attempt to analyse the level of a price and value of a property in the chosen communes of the Warmian-Mazurian Voivodship. The research included the undeveloped and developed land properties that belonged to the communes (horizone 2010–2013) as well as agricultural properties that belonged to the natural person and State Treasure (horizon 2010–2014). The main aim of the conducted research was to identify the differences between the estimated value of a property and the prices obtained in the real estate transaction. The results of the research was presented in the dissertation both in the analytic and graphical forms with reference to possible causes of occuring divergences.