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Variables concerning location play a role, as well. We live on lake property (high situs) but two lots to the right is a camper. Three lots to the right are four $1/2 million properties. One mile away are properties dependent on wells, (negative impact on property value), whereas we have a small public water system. I have a low bank beach; others have high bank beach access. I have nearly an acre of land, others don't have enough land to rebuild under current building and environmental restraints.
Bottom line, there is no single means of determining the value of a property by some calculated formula.
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