Property Valuation
The concept of 'plottage' refers to:
AThe arrangement of buildings on a lot
BThe increase in value resulting from combining two or more adjacent parcels into a single, larger parcel✓ Correct
CThe division of a larger parcel into smaller lots
DThe map showing subdivision lots
Explanation
Plottage is the added value created when two or more adjacent parcels are assembled (through assemblage) into a single, larger parcel. The combined parcel may be worth more than the sum of the individual parcels due to economies of scale or improved development potential.
Related Arkansas Property Valuation Questions
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- When analyzing a sale for use as a comparable, the appraiser should first verify that it was an:
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