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Indian River County I Impact Fee Update Study <br /> Table F-9 <br /> Land Value Analysis- Libraries <br /> Variable(l) Year Average Land <br /> Value per Acre <br /> Value of Current Parcels 2013 $38,929 <br /> Value of Vacant Land: <br /> West IRC-Residential <br /> -4 to 6 acres 2013 $12,855 <br /> West IRC-All Land Uses <br /> -4 to 6 acres 2013 $15,727 <br /> Countywide-Residential <br /> -4 to 6 acres 2013 $21,884 <br /> Countywide-All Land Uses <br /> -4 to 6 acres 2013 $26,741 <br /> Vacant Land Sales: <br /> West IRC-Residential <br /> -4 to 6 acres 2010-2012 $43,238 <br /> West IRC-All Land Uses <br /> -4 to 6 acres 2010-2012 $51,252 <br /> Countywide -Residential <br /> -4 to 6 acres 2010-2012 $42,109 <br /> Countywide-All Land Uses <br /> -4 to 6 acres 2010-2012 $49,868 <br /> Used in the Study 2013 $50,000 <br /> (1) Source: Indian River County Property Appraiser Database <br /> Parks <br /> Indian River County's parks inventory includes parcels ranging from 0.3 acres to 140 acres. <br /> As such, a more detailed land value analysis was conducted, as shown in Table F-10. The <br /> value of current inventory averages $31,000 per acre. Given that the land values and sales <br /> for different acreage groupings range from $17,000 per acre to $100,000 per acre, an <br /> average value of $50,000 per acre is found to be a reasonable estimate for impact fee <br /> calculation purposes. This represents a 45 percent increase from the 2005 study and a 10 <br /> percent decrease from the 2007 study. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 F-14 Impact Fee Update Study <br /> 2 43 <br />