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LAND

    Total Assessed Value Reductions: $600,000,000

    Total Tax Savings: 6 Million Dollars+

     

    LAND – AGRICULTURAL  $150,000,000 – $1,500,000+

    LAND – COMMERCIAL $250,000,000 – $2,500,000+

    LAND – RESIDENTIAL $200,000,000 – $2,000,000+

     

    The appraisal and assessment of land is quite challenging due to the undeveloped nature of these properties that requires speculation on the part of the appraiser. The most important factor regarding the valuation of land is the highest and best use to which the land may be put as represented by the zoning or potential zoning. There are as many different zoning classifications as there are stars in the sky, and it seems as if each county, city and town has its own interpretations on the meaning for each class. Protax LLC has represented hundreds of “raw land” properties with a combined total assessment exceeding $2,000,000,000. The results have been quite remarkable with a 42% reduction in the average assessed value.