my opinion is that valuation is always subjective, but there's a whole industry and a whole field of economics dedicated to answering that question. conceptual

my opinion is that valuation is always subjective, but there's a whole industry and a whole field of economics dedicated to answering that question. conceptually, land value is just market price of the property minus building cost. building cost is a little more objective to estimate than market price but it's not an exact science either (i formerly product managed the cost estimator used by most US taxing jurisdictions and many international ones).