Agriculturally zoned land values haven taken a tumble.This 44 acre stretch of Ag land recently sold for $1.05 Million or $23,863 per acre. The 2009 assessed value is $83,301 an acre. In 2009 the Assessed/Market value was $3,665,240 and for 2008 it was $4,541,624. It would appear that there may be other incentives in this deal or that a corporate transfer is also involved.
A neighboring 120 acre parcel sold for $75,723 ($9,086,870) an acre in 2005 to Eureka Palms Partnership, LLLP (Pedro Adrian?). Eureka also bought a 16 acre parcel at the same time for $1,085,900 which is $67,868 per acre. Krome Gold Ranches, II LLLP (Armando Guerra, Rodney Barreto, Augustin Herran) bought 120 acres just East of this property at the height of the real estate bubble. They purchased the 120 acres in 2/2006 for $13,980,000, that computes to about $116,800 an acre. The assessed value/market value for Krome Gold is $4,750,000 in 2009 or $39,538 an acre - about a third of what they paid per acre.
2 comments:
Ah, dreams die hard. Maybe even the Dade County Farm Bureau has woken up. Personally that land is worth today only what some greedy developer would pay for it. Instead of rational planning what we have in Florida now is a destroyed landscape. It's the speculators' feast.
Wish I had a bucket of money. But, I wish even more that AG Trust would have picked up the land. what is the status on the county Ag Development Rights money?
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