Where a fee is required to be paid in lieu of land dedication, the amount of such fee shall be based upon the average estimated fair market residential land value being subdivided or developed. The fair market value shall be as estimated by the city at the time of final plat submittal or, in the case of an individual building a home or other structure, building permit application. If the developer objects to he fair market value determination, the developer may request the city to obtain an appraisal of the property by a qualified real estate appraiser mutually agreed upon by the city and the developer, which appraisal will be considered by the city in determining the fair market value. All costs of such appraisal shall be borne by the developer. (Ord. 81 §9, amended, 1980)