Assessing the Location-Specific Influence of Soils, Natural Resources, and Renewables.
Land valuation is a crucial process in determining the fair value of a piece of land, taking into account various factors such as its natural resources, agricultural potential, and renewable energy prospects. In the United States, different regions hold distinct values due to their resource endowments, whether it be fertile soil for crops, abundant mineral deposits, or renewable energy sources like wind or solar. The valuation of land encompasses three primary methods: the sales comparison approach, income approach, and cost approach.