Property Valuation
In Maine, a property's 'plottage value' refers to:
AThe value of land used for farming plots
BThe increment in value when two or more adjacent parcels are combined into a larger, more valuable parcel✓ Correct
CThe value assigned by the tax assessor
DThe value based on subdivision potential
Explanation
Plottage (assemblage) is the process of combining adjacent parcels, and plottage value is the additional value created when the combined parcel is worth more than the sum of the individual parcels.
Related Maine Property Valuation Questions
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- A Maine appraiser is asked to provide a 'retrospective appraisal' (appraising as of a past date). This may be needed for:
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- An appraiser in Maine is determining the assessed value of a property. The municipality uses an assessment ratio of 80%. If the market value is $350,000, what is the assessed value?
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