Property Valuation
In Maine, 'assemblage' in real estate refers to:
AA meeting of property owners
BThe combining of two or more contiguous parcels under one ownership to increase their combined value✓ Correct
CThe appraisal of multiple properties simultaneously
DA zoning change that combines multiple zones
Explanation
Assemblage is the process of combining (assembling) two or more contiguous parcels into a single larger parcel. Assemblage often creates 'plottage' value because the combined parcel may be worth more than the sum of the individual parcels.
Related Maine Property Valuation Questions
- A Maine property has a replacement cost new of $400,000 and total accrued depreciation of $60,000. The land value is $75,000. What is the value indication using the cost approach?
- When a Maine appraiser makes final reconciliation, they are:
- 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?
- In Maine real estate appraisal, 'market value' is best defined as:
- In Maine, a 'contaminated site discount' in a property appraisal accounts for:
- In Maine, the principle of progression in real estate value states that:
- A Maine appraiser uses the cost approach on a 15-year-old home. Physical depreciation based on straight-line over a 50-year economic life is:
- In Maine, when the subject property in an appraisal is superior to a comparable sale in one feature, the adjustment is:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →