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October 17, 2011 (Regular Meeting) Page 684 parcels near a declining subdivision or undesirable industrial or commercial use area. These influences must be determined and adjusted on an individual bases by the appraiser. B. Size: The size of a parcel plays a major role in determining the per acre price at which a parcel of land will sell. The total price asked for a parcel of land has an indirect correlation with the number of potential buyers in the market. This situation stimulates more price negotiation and longer turnover periods for large tracts. Consequently, the actual cash value per acre decreases as the size of the parcel increases. The value of small lots containing less than one acre depends greatly on zoning and health department restrictions, therefore, these lots are typically priced by the lot. Tracts priced by the acre are typically priced using the base price method in conjunction with following size factor chart: SIZE ADJUSTMENTS RURAL ACREAGE Land Model 04 Acreage Range Size Factor Calculation Acreage Range Size Factor Calculation .001 - .250 Acres Acres x Base x 370% 20.000 - 25.000 Ac Acres x Base x 100°% .259 - .999 Acres Acres - .250 x Base x 195% 25.001 - 100.000 Ac Acres - 25 x Base x 93% + (.250 x Base x 370 %) + (25 x base x 100 %) Formula - (( Acres - .250) x 195 %) + .93 Formula - (( Acres - 25) x 93 %) + 25.00 Acres Acres 1.000 Acres Acres x Base x 240% 30.00 100.001 - 300.000 Ac Acres - 100 x Base x 82% .40 + [(25 x Base x 1001 1.001 - 10.000 Acres Acres - 1.000 x Base x 100% + (75 x Base x 93 %)] + (1.000 x base x 240 %) Formula - (( Acres - 100) x 82 %) + 94.75 Formula - (( Acres - 1.000) x 100 %) + 2.40 Acres Acres 282.5% 300.001 Plus Ac Acres - 300 x Base x 60% 10.001 - 19.999 Acres Acres - 10 x Base x 90% + [(25 x Base x 100 %) + [(1.00 x Base x 240 %) + (75 x Base x 93 %) + (9.00 x Base X 100 %)] + (200 x Base x 82 %)] Formula - (( Acres - 10) x 90 %) + 11.40 Formula - (( Acres - 300) x 60 %) + 234.80 Acres Acres Examples of the Application: 100.00 .01 Acres 370.0° 15.00 Acres 106.0° .10 Acres 370.0% 20.00 Acres 100.00 .20 Acres 370.0% 25.00 Acres 100.00 .30 Acres 340.8% 30.00 Acres 98.8% .40 Acres 304.40 40.00 Acres 97.4% .50 Acres 282.5% 50.00 Acres 96.5% .60 Acres 267.9% 75.00 Acres 95.30 .70 Acres 257.50 100.00 Acres 94.8% .80 Acres 249.7% 150.00 Acres 90.5% .90 Acres 243.6% 200.00 Acres 88.4% 1.00 Acres 240.0% 250.00 Acres 87.1% 2.00 Acres 170.0% 300.00 Acres 86.3% 3.00 Acres 146.7% 350.00 Acres 82.5% 4.00 Acres 135.0% 400.00 Acres 79.7% 5.00 Acres 128.0% 450.00 Acres 77.5% 6.00 Acres 123.3% 500.00 Acres 75.8% 7.00 Acres 120.0% 600.00 Acres 73.10 8.00 Acres 117.5% 700.00 Acres 71.3% 9.00 Acres 115.6% 800.00 Acres 69.8% 10.00 Acres 114.0% 1000.00 Acres 67.9% C. Road Frontage: RURAL ACREAGE Land Model 04 The market tends to recognize parcels containing 10 acres or less as residential home - sites. Tracts of this size do not to tend to vary in price unless they have inadequate road frontage. Parcels containing ten acres or less are considered to have adequate frontage if 30% of the total acreage is in road frontage. Sales of large tracts, which have potential for development, tend to reflect the amount of road frontage in relation to total parcel size. Parcels containing more than ten acres are considered to have adequate frontage if 10% of the total acreage is in road frontage. Dividing the number of acres of road frontage (1 Acre = 208' X 208 by the total acreage, yields the percent of frontage to total acreage. This percent when