I'm looking for a distance sensor up to 60 ft +- 6 inches?

I'm looking for a cheap distance sensor up to 60 ft +- 6 inches.
I think sonic or IR sensors could not provide the distance needed.

I'm thinking of something like a fishing line and counting (with an encoder) the number of turns on a reel as the distance changes (with some kind of spring or motor to keep a tension on the fishing line). (Similar to a tape measure). Any suggestions/ideas (something practical and low cost)?

Think laser measurement is probably the way to go but not cheap at around £100 for a 50M unit. Alternatively a standard 50M hand wound tape.