No, don't subtract the land value. HOA owns the land. You own a piece of the air space over the land. And you may not own all of that. For example. you may own the interior walls, but the exterior is HOA owned. Same for the roof and possibly other things as well.
When you bought the condo, you also bought into the HOA...but that is not the land.
**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
