Calculating value of land vs building for a Condominium

[johnstreatfeild]

Is there a standard formula for determining the value of the land vs the building for a condominium?

[DavidD66]

The best and easiest way to determine the value of the land vs the building for real estate (condo or single family house) is to use the ratio used by the Tax Commissioner.  You can get the information from your property tax bill, or look it up on your property tax assessor's website - it's public record.  Don't use the values, just the ratio they have.  For example, if the tax assessor values your Condo at $150,000 with $50,000 for the land, and $100,000 for the improvements (the condo) then your ratio of condo to land is 2 to 1.  If you purchased the condo for $210,000, your allocation would be $140,000 condo and $70,000 land.