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How do you compare tax value vs market value on a tract of land without structures vs with structure

Considering buying a tract with an assessed tax value of $60K. Seller is under the impression this is approx 70% of market value.
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December 29 2008 - Greensboro
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Profile picture for sunnyview
You need to contact an appraiser. Zillow cannot answer this question for you and neither can the seller. Sellers know how much they will accept in a sale, but they are not appraisers. Tax values are not a reliable way to determine value either. A realtor may be able to give you preliminary guidance with a CMA and that might help you make a solid decision. Frankly though, your question as to built value vs land value would be best answered by an appraiser due to the number of variables involved. I would not trust the seller's valuation or the tax value period.
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December 29 2008
 
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