qbteachmt
Level 15

"I looked at the tax assessment from the county"

Take the assessment from the purchase timeframe, not current. Take the purchase of the land compared to the assessed value as the FMV ration for the land and use that going forward to break the land out from the total sale for current values.

That's what I do in a resort area near me, because the lots increase more than the buildings are even worth, quite often.

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