> How do you calculate the unimproved land value? The first thought that immediately came up for me: - Take the average property value per sqft for each given

> How do you calculate the unimproved land value? The first thought that immediately came up for me: - Take the average property value per sqft for each given property - Multiply it by a fixed percentage - Take the (your favorite mean / average type) value per sqft and apply that to the empty lot If that undeveloped land and its surrounding developed areas are controlled by one entity: Recursively expand outwards to factor in the value of the surrounding areas as well. Compared to the methods outlined by fastball's link [0] later in the article, it's much more weighted towards public valuations & has fewer subjective areas, with the cost being that it can be gamed if certain properties were sold cheaply (but then that's an auditing issue). No solution would be a silver bullet, but it's 70% silver, and that's good enough to start from. [0] https://www.gameofrent.com/content/can-land-be-accurately-assessed#5-mass-appraisal-methods https://www.gameofrent.com/content/can-land-be-accurately-as... > This is an interesting question with the fires in LA right now. Is the land still as valuable as it was before the house burned down, minus the rebuild cost of the house? Or is the value intrinsically tied to the community that was there but no longer is? IMO, the land value is lowered because of the destruction of the properties built on top of it, on top of the rebuilding costs that will come later. > Or is the value actually higher now that a developer can come in and remake an entire neighborhood? Not until (a) the land is actually developed, or (b) the market reflects that decision back onto the land values for that area.