-the value of land comes from several sources.
-land value can be estimated by either the market value or income capitalization methode.
-with the market value approach,the value of land is determined by comparing it with similar pieces of land that have sold recently.
-with the income capitalization method, the estimated income per year is assumed to last into perpetuity and the present value of the land is estimated by dividing the estimated income by the capitalization rate.