Post #15313 by Dope1 on the US Policy board

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Pause to imagine what posts would you want to read here from others. It will likely be kinder, or involve original research with data, or be detailed and thorough, or all of the above. In response, aim to write your own posts in such a way. This will systemically produce the most valuable boards.

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So let's look for something that's sold. One block down from your example, we have a home that just sold a few days ago. Also for $27.5 million, coincidentally - but this one is improved with a 12,000 square foot mansion on it and is on four acres:

$29M on 4 acres. You understand that if I take this as the baseline, it still makes the judge look bad?
(MaL on 17 would be $123M).

Perhaps because Mar-A-Lago is encumbered with a historic preservation easement, which prohibits not only changing the exterior (which is burdensome but common for single-family residential historic properties), but also portions of the interior? Or the deed restriction which prohibits it being used for anything but a private club, which is an extraordinary burden on the Property?

Yeah, because nobody would buy it as a resort.

So the Property Appraiser got the appraised value approximately right for your example - but is off by 1800% for Mar-A-Lago?

Ahem.
Market value /= appraised value. When a property sells, then the two are one and the same but not before.

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