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Land value

How much is my land worth?

The short answer

Land is worth what similar land nearby has recently sold for, adjusted for the things that make your parcel different: location, size, road access, utilities, terrain and zoning. The value on your property tax bill is a starting point, but it often isn't the same as what a buyer would pay. The best estimate comes from recent sales of comparable land, a local appraiser, or a cash offer you can compare.

What affects land value the most

  • Location: distance to towns, jobs, roads and amenities.
  • Road access: land with frontage on a public road is usually worth much more than land with no legal access ("landlocked").
  • Size and shape: price per acre usually drops as acreage goes up, and odd shapes can be harder to use.
  • Utilities: nearby power, water and sewer (or the ability to install a septic system) add value for building.
  • Terrain: flat, dry, buildable ground is usually worth more than steep or flood-prone land.
  • Zoning and restrictions: what you're allowed to build, plus any HOA rules or easements.
  • Title and taxes: back taxes, liens or title problems don't stop a sale, but they affect what you take home.

Why your tax assessment isn't your sale price

Your county assigns a value for property tax purposes, but it's updated on the county's schedule, not the market's. It can be higher or lower than what a buyer would actually pay today. Use it as a rough reference, not a price.

How to estimate your land's value yourself

  1. Find your parcel details. Look up the parcel number, acreage and road frontage on your county's property or GIS website. See how to find your parcel number.
  2. Look at sold land nearby, not just listings. Asking prices are often higher than what land actually sells for. Land listing websites and local agents can show recent sales.
  3. Compare like with like. Similar size, access, utilities and terrain, as close to your parcel as possible.
  4. Get a professional opinion if needed. A licensed appraiser can give you a formal value for a fee.

What about a cash offer?

A cash offer is usually lower than the top retail price you might get by listing and waiting, because the buyer pays cash, buys as-is, covers the closing costs and takes on the time and risk of reselling. In exchange, you get a guaranteed price, no fees or commissions, and a closing date you choose. We base our offers on recent comparable sales and the property itself, and we're happy to explain how we arrived at our number.

Curious what a cash buyer would pay for your land?

Send us the parcel number or address. We'll research it and send a fair cash offer in about 48 hours, free and with no obligation.

Related

This article is general information, not legal advice. Every property and family situation is different. For advice about your situation, talk with a real estate attorney.

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