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  • Land Valuation Guide

    A written document setting forth the rates & procedures to be used to appraise the land in a jurisdiction

    ISO Line

    An area of equal measurement or constant value

    Contour Line

    An area of equal elevation

    Index Contour Line

    Different and wider. Often carries the elevation numbers.

    Land Identification Systems

    Lot and block. Meets and bounds. Government survey.

    Legal Description

    A description of a specific parcel of real estate complete enough for an independent surveyor to locate and identify it.

    Parcel Number

    A number that represents a parcel's legal description.

    1 Link

    7.92 inches

    1 Rod

    16.5 Feet

    1 Chain

    66 Feet (100 Links or 4 rods)

    1 Mile

    5280 Feet

    1 Acre

    43560 feet

    1 Yard

    3 feet

    Land Identification Methods

    Technical Background
    Linear and Area Measurements
    Land Identification System

    1 degree

    60 minutes

    1 Minute

    60 seconds

    Contour Interval

    The distance between contour lines

    Steps to Developing a Land Valuation Guideline

    PMS Is Mainly Female Not Male Nor Other
    Plats
    Maps
    Sales
    Interview
    Mark information
    Field Run
    New Sales
    Mark up Plat Maps
    Neighborhoods
    Office

    NOI

    PGI
    - VAC
    + MISC
    __________
    EGI
    - EXP
    __________
    NOI

    Economics

    The study of the allocation of scarce resources

    Urban Land Economics

    The study of the allocation of urban space

    5 Broad Catagories of Properties

    Residential
    Commercial
    Industrial
    Agriculture
    Special Purpose

    Extranalitie

    Products or conditions that have a positive or negative effect on a parcel

    Friction

    Transportation and communication cosys as defined by distance and time considerations

    2 Phases to Land Valuation Guidelines

    Guideline Development
    Guidline Application

    Scales on a Map

    1inch -50 feet - Congested
    1inch - 100 feet - Urban
    1inch - 200 feet - Suburban/Small Town
    1inch - 400 feet - Rural

    Highest and Best Use

    The reasonable and probable use that supports the highest present value as the date of the appraisal

    Highest & Best Use Tests

    Physically possible, appropriately supported, financially feasibility, results in highest and best use

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