Looks like its a mystery worth pursuing.
I will step up and take your challenge.Well, with all due respect, it should not be a mystery to the folks who frequent this site yet I cannot get anyone to give me the "formula" for valuing a given home owners land.
Tell me how they do it where you live.
Take your home and compare it to another in your neighborhood with land twice as large as yours and see how it stacks up. Is your neighbor paying for land at the same rate as you and if not, why not?
Simple enough. Who will take my challenge?
With all due respect the answer HAS already been provided yet you do not seem to be listening.Well, with all due respect, it should not be a mystery to the folks who frequent this site yet I cannot get anyone to give me the "formula" for valuing a given home owners land
The assessor is new this year so she did not make any of these valuations, but, yes I did email her twice asking for how they (the town) arrive at a given value and she did not reply back. She probably has no clue as to how it was done and she is probably praying I do not make a public issue of this where others examine their assessment compared to their neighbor.
All the properties I have sampled and reported here are developed and for some time. All are within a stones throw from my house. The one that is 1.11 acres is above me and the other two directly across the street from me. He (1.11) is younger than me by some 10 to 15 years so age is not the issue, here.
You can look anywhere here and find this over and over. The only place I find it stays the same is for streets where the lots are exactly the same size. The houses on the lots are all different in size but the lots are the same. In those cases the lot values are all identical. Again, not adjusted for age or military experience.
No matter how you slice it, someone who owns more pristine residential land than another should not be given a tax discount for that reason. I know of no other situation where this same philosophy applies.
As to the Connecticut documents posted, above, I find no reference to how to set land values from home to home, so if it is there please point me to it.