Which method is typically not used for determining land value in appraisals?

The tax assessment approach is typically not used for determining land value in appraisals because it is primarily utilized for property taxation purposes rather than for establishing market value. Tax assessments are usually based on the assessed value assigned by local governments and can often lag behind current market trends. This method aims to determine a taxable value rather than an accurate market analysis reflective of current economic conditions or comparable land sales.

In contrast, the cost approach evaluates land by estimating the cost to replace improvements and adjusting for depreciation while factoring in the value of the land itself. The sales comparison approach analyzes recent sales of similar properties in the area to derive an equitable value for the land. The land residual technique, while less common, assesses land value based on the income generated from the property and the value of any associated improvements. This approach is often employed in income-producing properties where deriving land value is based on the expected income potential. Each of these methods is recognized as a viable strategy for establishing land value in the context of appraisal practices.