Today’s question comes from Raffaele who asks:

I have a project that is about to go into construction. The city is requiring me to pay a parkland dedication fee equivalent to 7% of the land value that the city can use in the future to build and maintain new parklands. We know what we paid for the land several years ago. That value has probably changed over time and will require a new appraisal to be determined. The value of land is often affected by the cost to get the land into a shovel ready state. What things do you think I can realistically ask the appraiser to take into account when determining the value of the land?

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AMA - What Can Influence A Land Appraisal