Property Valuation
Plottage (assemblage) value in Oklahoma refers to:
AThe value lost when a large parcel is subdivided
BThe increased value resulting from combining multiple adjacent parcels into one larger, more valuable parcel✓ Correct
CThe value of a plot of land before any improvements
DThe premium paid for corner lots
Explanation
Plottage (or assemblage) value is the increment in value created when two or more adjacent parcels are combined. The assembled parcel is often worth more than the sum of its parts because it enables uses not possible with smaller individual parcels.
Related Oklahoma Property Valuation Questions
- An appraisal adjustment for a feature in the sales comparison approach is made to:
- External obsolescence in Oklahoma might be caused by:
- An Oklahoma appraiser performing a market analysis finds that homes with swimming pools in a particular neighborhood sell for only $10,000 more than comparable homes without pools, even though pools cost $40,000 to install. This demonstrates:
- An appraiser determines a subject property's value using the gross rent multiplier (GRM). The property rents for $1,800/month and comparable properties sell for 120 times monthly rent. The estimated value is:
- Reproduction cost in the cost approach is:
- When an Oklahoma appraiser performs a drive-by appraisal (exterior-only inspection), the appraiser's limitations include:
- An Oklahoma REO (real estate owned) property — one acquired by a bank through foreclosure — will likely be:
- Accrued depreciation in the cost approach to appraisal is the sum of:
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