Property Valuation
In Kansas, 'assemblage' refers to the process of:
AListing all improvements in the cost approach
BCombining two or more parcels under single ownership to create a larger, more valuable parcel✓ Correct
CAssembling comparable sales for the sales comparison approach
DBuilding a structure on vacant land
Explanation
Assemblage is the combining of two or more adjacent parcels under single ownership. The resulting larger parcel may have a higher value than the sum of the individual parts (plottage).
Related Kansas Property Valuation Questions
- What is 'external obsolescence' (economic obsolescence) in Kansas property appraisal?
- What is 'functional obsolescence' in Kansas property appraisal?
- In Kansas, the 'reconciliation' step in the appraisal process involves the appraiser:
- What is the primary limitation of the sales comparison approach for unique Kansas properties?
- In Kansas, a 'mass appraisal' is used primarily for:
- The principle of substitution states that a buyer will pay no more than:
- In the cost approach, the formula for value is:
- A Kansas appraiser identifies a comparable sale at $220,000. Compared to the subject, the comparable lacks a two-car garage worth $12,000. The adjusted value of the comparable is:
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