Utah Value of undeveloped land is an assessment method used by the Utah State Tax Commission to determine the value of vacant and unimproved land for taxation purposes. The Utah Value of undeveloped land is determined by assessing the market value of the land based on prices of comparable sales in the local area. The Utah Value of undeveloped land can be broken into four types: Agricultural, Residential, Commercial/Industrial, and Mineral/Oil/Gas. Agricultural land values are based on the land’s potential for producing crops and livestock, while residential land values are based on the potential for development into residential dwellings. Commercial/Industrial land values are based on the potential for development into commercial and industrial properties, and Mineral/Oil/Gas land values are based on the potential for the development of mineral, oil, and gas resources.