Land Use Codes: Generally, identifies the highest and best use of the property, unless otherwise deemed as special use.
Land Site Codes: Describes the breakdown of land segments for the purpose of applying uniform rates and adjustments to a parcel of land.
Unit Type: Identifies the type of measurement used for land valuation.
Units: A numeric value representing the total units of land as defined in the unit type field.
Size Factor: Adjustments for lots smaller than the base lot established for the neighborhood. The reasoning for this adjustment is that most lots in a residential subdivision will sell for the same or nearly the same price even though there are minor differences in size. When improved with a house, the total package or selling price is typically the same. Minor lot size variations below the base lot have little impact on the selling price.
Site Factor: An adjustment to the land segment based on the site code.
Appr O/R Factor: The factor used to adjust the base lot value for a negative or positive influence affecting the land.
Appr O/R Reason: Describes the type of influence affecting the property.
Total Adjustments: Calculated by the following formula:
Unit Price: The base price per unit for a neighborhood or an area prior to any adjustments.
Adjusted Unit Price: Calculated by the following formula:
Value: Calculated by the following formula: