Question

Barney owns a lot valued at $84,000. he purchases an adjoining lot for $66,000 and merges the two properties. the current appraised value of the newly formed lot is $177,500. this is an example of:_____.

Answer 1

The freshly developed lot currently has a $177,500 appraised value. as an illustration: plottage

Plottage is the increase in value obtained by joining two or more neighboring pieces of land into one bigger tract. Assemblage describes the procedure of bringing the parcels together. In most cases, the total value of a parcel will be more than the sum of its smaller parts.

What does plottage increment mean?

The value added by fusing the lots is referred to as plottage increment. As an illustration, Steve is the owner of two adjacent plots. It costs $40,000 for each one. The overall valuation has increased by $10,000 and is now $90,000 when consolidated into a single property.

To know more about Plottage

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