Many large American assessment jurisdictions still treat land valuation as an afterthought, and whenever deficiencies in land valuation are brought up, these jurisdictions respond to critics with a perfectly sensible question:Well, what do you suggest we do instead?Unfortunately, the IAAO, the governing body that sets standards, isn’t much help in this regard. The entire chapter on “Land Valuation” in their standard on Mass Appraisal handbook is two whole paragraphs:Furthermore, whenever I propo...