This paper introduces the updates in the benchmark land price in Yantai city, and analyzes the benchmark land price levels of commercial, residential and industrial lands, calculates some internal structural ratios including same-level-all-type land price ratio, all-level-same-type land price ratio, reveals the major issues presently in the benchmark land price modification system, i.e., lack of leveled capacity correction ratio and industrial land capacity correction ratio, and presents some suggestions to improve the calculation.