Pricing Policy

Land Trust properties are sold after their   value is determined by an   established estimate of the appraised value by the Trustees upon   recommendation of the Land Commissioner or independent appraisal. It   is the policy of Land Trust to sell properties for the full amount of the   appraised value. The trustees of Land Trust will consider selling properties for   less than the full appraised value only rarely and in exceptional circumstances.

For some owners of residential property   located next to vacant  lots owned by Land Trust, the statutes under which Land Trust is established   permit an exception to the policy of selling property for its full appraised   value. In part, that section reads:

“Section 141.750.2... the land trust may sell   or convey a vacant residential tract of land containing four thousand square   feet or less with an assessed value of less than two hundred fifty dollars to   the owner or owners of residential property contiguous to the tract being   sold for a price equal to fifty percent of the assessed value of the tract   without first obtaining an appraisal of the tract.”