Reassessment 2012: Land Value is Meaningless.

Posted By Cliff Tuttle | January 5, 2012

No. 783

I have been hearing from clients with properties in the City that their building values seem reasonable (or even went down) but the land values have soared, making the total much higher.  Be aware that the total value is the only number that counts.  Nobody buys land and buildings separately.  Assuming that there have been some sales of building lots and other vacant land in the City for hefty numbers, that would not translate into higher land values for developed properties. A vacant lot and a developed lot are simply not comparable.  Ignore the land value, focus on the total value and appeal it.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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