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An assessor's parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping. The assigned number is unique within the particular jurisdiction, and may conform to certain formatting standards that convey basic identifying information such ...
For example, a metes and bounds described parcel may be assigned the Tax Identification Number 14-55-118, which has nothing to do with the legal description of the property recorded in the deed other than its use to create the tax Block and Lot maps. In this case, the first number may be used to indicate the local municipality, the second ...
Values may change over time, and many states require taxing jurisdictions to redetermine values every three or four years. The value of property is often determined based on current use of the property, rather than potential uses. [25] Property values are determined at a particular valuation date for each jurisdiction, which varies widely.
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
A land parcel or cadastral parcel is defined as "a continuous area, or more appropriately volume, that is identified by a unique set of homogeneous property rights". [ 3 ] Cadastral surveys document the boundaries of land ownership, by the production of documents, diagrams, sketches, plans ( plats in the US), charts, and maps.
Property values have had quite a run since the 2020 pandemic, more than doubling in many markets. Between that run-up, high inflation the past two years, persistently high interest rates and the ...
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