Quote:
Originally Posted by kjkam
Perfect example of the tom foolery going on
Barton's Motel, 4.2 acres of water front property had it's assesment just for the value of the property go down from $726k to $531K.
Margate hotel, 4.8 acres assessed value of just the property again went down from $1.3M to $1M
How are those properties valued at $126k to$208K per acre, but residential property on the other side of the lake, had their valuations increase as much as 42% with an average value of $1.5M per acre of land?
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For many reasons you cannot compare residential to commercial for assessed values. Much of the assessed commercial value is determined by zoning and permitted use of the property, it is not based solely on size of the land and the structures on it.