Property Valuation
Plottage value in South Dakota refers to the increased value that results from:
AAdding improvements to a vacant lot
BCombining two or more parcels into a single larger parcel✓ Correct
CSubdividing a large parcel into smaller lots
DRezoning a property to a higher use
Explanation
Plottage (or assemblage) is the increased value per unit that results from combining multiple smaller parcels into a single larger parcel, which may have greater utility or development potential.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
AppraisalA 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.
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