I can not help here, as this is considered farm land and I'm not familiar enough with the tax rules on farm land. But I do know that more details are needed to ensure you "do" get valid and correct information.
You say you "won" this as a settlement in court. Is this a case that is treated as you inherited it from your grandfather after his passing? If not, then why was it "won" by you? Settlement for something else maybe?
Typically, when you inherit real estate, it's cost basis for the beneficiary recipient of the inheritance is the FMV of the property on the date the person it was inherited from, passed away. So if not inherited, that may not come into play here in determining your FMV.
