TexasBred
Well-known member
Jo the income approach to value is seldom used on land anymore unless it's come kind of high concentation feedlot operation. Otherwise "market value" is normally used for appraising the propety and attempting to arrive at a value. And many times "idiots" buying overpriced land dictate the value as they themselves have now created a "new market" with their purchases albeit inflated. The taxing agencies love it.