Are you looking for VHS (analog) or something digital like miniDV (digital video)?
For tape, the current state of the art is miniDV. Unfortunately, for consumer grade new camcorders, the hot thing is either DVD or hard drive units, which are convenient, but much lower quality.
There are professional miniDV video cameras that are several thousand, but you can still get a high-def (HD) miniDV camcorder from Canon, model HV20. I'm seeing it on the internet well under $700 (BHPhoto, for example, has it for $620). I'd jump on this camera, as consumer grade video cameras are going for convenience over quality, as I mention above.
You could go into the used market and find something like a Canon Elura 100. You'd probably find one in nice condition for a couple hundred. It won't be of the visual quality level of the HV30 (the Elura is not high-def and has a smaller sensor). If you don't mind spending closer to the $700 mark, then the Canon HV30 would be a long-lasting choice. With that camera, you're not likely to want better quality unless you go big-time pro.
On the other hand, if you are looking for some sort of analog format tape (there are many), I think you will have to go used.
I need to purchase a camcorder for school. I will need the camera to tape various reports. I would like to have somewhat good quality, but nothing too spendy. My only requirement is that it films to a tape and has a microphone input. Any advice on which camera to chose? Im looking to spend 700 or less. thanks.