Depreciation of Land Value on a condo in a building

[Mihir Bhimaraju]

Guys, I was sifting through public records on a condo unit in a decent - up & coming, safe neighborhood. I noticed that the "Land value" on record has dropped from almost 10k to 1.5k but the interior upgrades that were done to the condo steadied the ship a little bit.

Cash flow is pretty steady and I'll make 2%. but the land value drop is baffling me and I can't think of any plausible cause. While i'm still in talks with my agent to dig up more info on this, I was wondering if anyone of you ran into this? Is this a red flag and if it is, how?