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subdivision thereof as the highest and best use, and he valued
the 20-acre carve out at $20,000.
Petitioners’ expert claims that in 1998 a “glut” of land was
available in and around China, Maine, resulting in a 10-year
absorption period to sell the farm acreage. He therefore claims
that the costs of any subdivision and the likely delay in the
sale of any lots made any subdivision of the farm acreage not
feasible and that the highest and best use of the farm acreage
was as crop land with a September 1998 fair market value of only
$87,000.
Our conclusion as to the September 9, 1998, fair market
value of the farm acreage, the residence acreage, and the 20-acre
carve out is based on the following additional factors:
(1) In the 1994 divorce proceedings, the divorce court
established a total value for the farm acreage and the residence
acreage of approximately $200,000;
(2) In August of 1997, the realtor on behalf of Richard and
Marilou proposed a subdivision and development into residential
lots of a portion of the farm acreage and selling the developed
lots off for a total of approximately $265,000;
(3) During the years 1994 through 1998, real estate in the
vicinity of the subject properties generally increased in value;
(4) In 1998, John’s offer to purchase the farm acreage and
Susan’s purchase thereof, on behalf of Carrie, Tracy, and
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