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Department of Revenue review finds counties generally use sales-comparison approach to value lakeshore and shoreline acreage
Summary
The Department of Revenue told the Senate Taxes Committee on Jan. 16 that most counties use a sales-comparison method — often price-per-front-foot or site-value-plus-front-foot — to value lakeshore and shoreline acreage on state and county natural-resources lands.
The Senate Taxes Committee received a Department of Revenue review of county assessment methods for lakeshore and shoreline acreage on Jan. 16.
Property Tax Director Sean Kloxien (Department of Revenue) said the 2023 law directed the department to report how assessors value shoreline and lakeshore acres on DNR-administered and county-administered natural resources lands. Kloxien told members counties overwhelmingly reported using the sales-comparison approach, and that lakeshore parcels were commonly measured and compared on a price-per-front-foot basis or a combination of site value plus front-foot adjustments.
Klo…
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