Actual costs reflect the actual amount of money spent to develop a course.  They take into account local terrain and conditions, as well as local cost factors.  However, since actual costs may be spread out over a period of years, the assessor may not be able to obtain all the details.

Recently completed courses can be valuable sources of information.  The golf course owner should be contacted in an effort to obtain construction/development cost information.  A sample letter that should be sent to the owner titled “GCRF13 Golf Course Construction Cost Form” has been included in the Addenda of this guide.

Actual costs may be appropriately applied in the analysis of the values of individual properties, especially when such properties have been recently developed.  However, actual costs may not be as appropriate for establishing typical values of golf course properties and in establishing values for older golf courses.