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Calculating rental property for recently acquired rental property (California)

How do we calculate the land value, would it be based on appraisal report or taking a ratio of the assessed value from the county assessor? the issue with the county data is that it doesn't reflect the recent purchase price, and the last time the property changed hands was in 1995 when land value > improvements. now it is the complete opposite where land value is way more than the value of the improvements. I am having a discussion on which method is best to determine the value of the improvements. based on county data (based on assessed value but land < improvements), based on appraisal report where land > improvements.

I am having a discussion with someone else and I am claiming the appraisal report would be more accurate, whereas the other person said looking up assessed value from county is fine (even though the house last changed hands in 1995) where the amount of depreciation would be more because based on ratio, the improvement amount is more than land. the difference in the two methodology is over 400k difference

submitted by /u/Pointyspoon
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source https://www.reddit.com/r/RealEstate/comments/tjwnp2/calculating_rental_property_for_recently_acquired/
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