According to the 2010 tax reappraisal, our 1-acre lakefront lot is valued at $200,000, twice its value five years ago; our house is valued at $100,000 more.
To understand the method used for evaluating lakefront land, we had a helpful and informative meeting with our tax assessor, Teresa Kirkham.
Here are some comments that may help others regarding their lakefront reappraisal values.
She gave us a list of 58 lakefront property sales in 2008 and 2009. One hundred qualified-sale (no duress) properties were used in the appraisals, but usually 200 are used.
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