Lot
A defined parcel of land, typically described by reference to a recorded plat or tax map. Lot dimensions, shape, and conformity to zoning minimums drive site utility and value.
Related Terms
Plat
A recorded map of a subdivision showing lots, blocks, streets, and easements.
Tax Map
The municipality's official map dividing land into blocks and lots for assessment purposes.
Site
Land that has been prepared for use — graded, with access and utilities available.
Subdivision
The division of a parcel into multiple lots, or the resulting development.
More in Land & Site Valuation
View allAllocation Method
A land valuation technique that estimates land value by applying the typical ratio of land value to total property value observed in the market.
Extraction Method
A land valuation technique that estimates land value by subtracting the depreciated cost of improvements from the total sale price of an improved property.
Land Residual Technique
A land valuation method that estimates land value by capitalizing the net income remaining after deducting the return attributable to the improvements from the property's total net operating income..
Ground Rent Capitalization
A land valuation method that estimates land value by capitalizing the ground rent (the rent paid for the use of land only, without improvements) at an appropriate capitalization rate..