When appraising bare agricultural land, which comparison would be most appropriate?

When appraising bare agricultural land, the most appropriate comparison is to look at other bare agricultural land. This is because bare agricultural land has specific attributes that are unique to its intended use, including soil quality, topography, climate, and accessibility to water and markets, which are essential for agricultural productivity. Evaluating other similar properties allows the appraiser to draw from relevant sales data, characteristics, and market trends that directly reflect the value of the land in question.

Other types of land, such as developed residential land, commercial agricultural land, or industrial land, involve different uses, market conditions, and factors that do not align with the valuation of bare agricultural land. For example, developed residential land is impacted by factors like building regulations and neighborhood desirability, while commercial and industrial land valuations consider different zoning laws and economic considerations that do not apply to agricultural land. These differences make comparisons with those land types less relevant when determining the value of bare agricultural land.