how the price of a property or piece of land is determined
In: 2
People look at the land around it to see how much that is worth ($ per square foot or acre) and ask a similar amount. Sometimes the cost of improvements (road, house, etc) is added to the selling price to recover those costs.
If there already is a property owner, the government has probably guessed a value for property taxes so that can be a starting price.
Latest Answers