Property Valuation
A Wyoming property's 'plottage value' refers to:
AThe value of a small, difficult-to-develop parcel
BThe additional value created by combining multiple smaller parcels into one larger, more usable parcel✓ Correct
CThe value of mineral rights beneath the surface
DThe value of water rights appurtenant to the property
Explanation
Plottage (or assemblage) refers to the increased value created when multiple adjacent smaller parcels are combined into one larger parcel. The combined value often exceeds the sum of the individual values due to greater development potential.
Related Wyoming Property Valuation Questions
- A Wyoming appraisal uses a 'cost-to-cure' approach for depreciation. This method is used when:
- Functional obsolescence in a Wyoming property is best illustrated by:
- Economic obsolescence (external obsolescence) is always:
- When appraising a Wyoming property, 'plottage' or 'assemblage' value refers to:
- The principle of substitution states that a buyer will not pay more for a property than:
- An appraisal that is performed for estate purposes in Wyoming must reflect the property's fair market value as of:
- Replacement cost in the cost approach uses:
- A Wyoming residential appraisal using the sales comparison approach typically requires a minimum of:
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