If you don't have an appraisal report that split the building from the land, at the time of purchase, contact your local recorder's office. They may have the land's assessed value at the time of purchase. You may then allocate, as a percentage, a portion to the building and a portion to the land.
- The value of all real property for property tax purposes is determined by state and local laws.
- As a result the taxing authority, which would either be the state or municipality, will periodically appraise the value of the land to ensure that it is charging the appropriate amount in taxes.
Here is a previous answer to a similar question: https://ttlc.intuit.com/replies/5180826
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