Property Valuation
Plottage value refers to the increased value created when:
AA subdivision lot is located on a cul-de-sac
BSeveral smaller parcels are combined into one larger parcel✓ Correct
CThe PVA reassesses a property upward
DA corner lot commands a premium price
Explanation
Plottage (or assemblage value) is the additional value created when several smaller parcels are combined into a single larger parcel. The assembled value typically exceeds the sum of the individual parcel values.
Related Kentucky Property Valuation Questions
- A Kentucky appraiser must retain a copy of their completed appraisal report for how long after the date of the report?
- Assessed value in Kentucky is typically set by:
- A Kentucky commercial property appraiser must disclose in their report any:
- A Kentucky appraiser who is appraising a property they have a financial interest in should:
- The 'replacement cost' in the cost approach differs from 'reproduction cost' in that replacement cost uses:
- Progression in property valuation means a lower-value property:
- When a Kentucky appraiser's value conclusion is significantly lower than the contract price, the lender's underwriter will likely:
- When a Kentucky appraiser notes that a property has more bathrooms than is typical for the neighborhood, this excess is called:
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