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Determination of Land Value of Permanent Easements <br /> <br />The drainage and utility easement will prevent the construction of structures within the easement <br />area. It will not prevent the use of the property for parking or landscaping. The later use in this <br />case where the easement is being taken on the near line of the property is the most likely use of <br />this property. For this reason the value of the easement will be considered 50% of the fee title <br />value of the land. <br /> <br />The most recent sales in the area were the parcels purchased by Lowell Zitzloff in 1998. In this <br />purchase, these parcels totaling 89,164 square feet, were purchased at a cost of $154,974, on a <br />per square foot pr/ce of $1.74. A check of the Anoka County Assessor records shows property <br />values as shown on the attached summary of County Assessor Land Values. These per square <br />foot land values range from $0.63 to $2.08. <br /> <br />Given the sale pr/ce and assessors value of the Zitzloffproperty, it is reasonable to conclude the <br />value of this property is at least $2.00 per square foot. Allowing for an increase in market price <br />of 25% over the last 24 months. I would establish the per square foot land value to be $2.50 per <br />square foot. <br /> <br /> <br />