How do you calculate the present value of property?

Answer by  John81 (154)

It depends on a number of factors. A good place to start is searching local records for tax information and sale prices for similarly sized and positioned lots or acreage. Some other questions about the property to help determine current value include sewer/septic and electrical access, and property zoning or for more rural properties any potential use restrictions.

Answer by  Dean (4035)

The value of a vacant property is predicated on the interest in the property in that particular area. A piece of land might be worth $500,000 in the heart of a thriving commercial area, while the identical piece of property in a blighted area would have significantly less value. Contact a real estate professional to get comps of similar properties.