Property Valuation
Plottage (assemblage) value in Arizona real estate refers to:
AThe decrease in value caused by combining parcels of different uses
BThe increased value created when two or more adjacent parcels are combined into one larger parcel✓ Correct
CThe value added by rezoning a commercial property to residential
DThe value of air rights above an existing building
Explanation
Plottage (or assemblage) refers to the increased value created when two or more smaller adjacent parcels are merged into one larger parcel. The combined value often exceeds the sum of the individual parcel values.
Related Arizona Property Valuation Questions
- In the cost approach, what does 'reproduction cost' mean?
- The principle of substitution states that:
- Functional obsolescence in a property is BEST illustrated by:
- The cost approach to value estimates property value by:
- An Arizona appraiser using the cost approach estimates the value of a home as follows: land value = $80,000; replacement cost new of improvements = $220,000; accumulated depreciation = $30,000. What is the estimated value?
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- An appraiser makes a positive adjustment of $5,000 to a comparable sale in the sales comparison approach. This means:
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