Property Valuation
The 'plottage' concept in Oklahoma real estate appraisal refers to the increased value that results from:
APlanting trees on a property
BCombining two or more adjoining parcels under one ownership, where the combined parcel has greater value than the sum of the individual parcels due to increased utility or developability✓ Correct
CPlotting a new subdivision
DAssessing a plot of land for tax purposes
Explanation
Plottage (also called assemblage when referring to the act of combining parcels) is the increment of value that results when two or more parcels are combined. The assembled parcel may have greater development potential or utility than the individual parcels had separately.
People Also Study
Related Oklahoma Questions
- Plottage (assemblage) value in Oklahoma refers to:Property Valuation
- Plottage (assemblage) value refers to:Property Valuation
- A one-section (640 acres) parcel of land in western Oklahoma is worth $850/acre. What is the total value?Real Estate Math
- When an Oklahoma appraisal is being performed for estate tax purposes, the relevant date of value is:Property Valuation
- An 'as-if-stabilized' value in an Oklahoma commercial appraisal represents:Property Valuation
Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Study This Topic
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →