Great! I’ll take all the oceanfront/riverfront land in an area and all the land immediately adjacent to major metro stops, please.

This highly local variation in land value does not seem to be adequately addressed n the California link above either (other than “The estimation runs at the level of each property category within each California county or census tract, using parcel-level data”, which does not seem fine-grained enough to cover waterfront property).

Surely the land value overlooking La Jolla or Malibu is worth far more than the lots just one block back. And those lots are likely to have more expensive improvements on them in any taxation system, but at least in a property taxation system there is a direct market reference to come back to rather than just an assessor’s judgment.

How much is the dirt at 28824 Cliffside Dr, Malibu worth? $5M? $25M? $50M? $75M? What does the census-tract level estimate come up with? How does that compare to 28867 Cliffside with an ever-so slightly larger lot, both in Census tract 8004.12?