Property Valuation
What does 'plottage value' mean in Alaska real estate?
AThe value added by a plot of land over an adjacent street
BThe incremental value created when combining multiple smaller parcels into a larger parcel✓ Correct
CThe value of an undeveloped portion of a subdivision
DThe appraised value of a lot for tax purposes
Explanation
Plottage value is the additional value created by assembling multiple smaller, less-valuable lots into a single larger parcel. The assembled larger parcel is worth more than the sum of the individual lots because of its increased utility and development potential.
Related Alaska Property Valuation Questions
- An Alaska appraiser finds that a property's 'as-if-complete' value assumes:
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- Which of the following BEST describes 'effective age' in appraisal?
- Reconciliation in the appraisal process means:
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