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Public Interest Value” [5] "” [6]" is potentially the most well known alternate valuation concept and has been discussed by many authors and specifically addressed in the Uniform Standards for Federal Land Acquisition (UASFLA)” [7]". In appraisals, an entity is assessed at its highest or best use to maximize value and increase revenue.
Note that since the variables used are inherent to the property and are not market-derived, therefore unless appropriate adjustments are made, the resulting value will be value-in-use or investment value, not market value. 5. Cost method. Used for land and buildings of special character for which profit figures cannot be obtained or land and ...
This model is the urban equivalent of von Thünen's rural land use model in that both are based upon locational rent. The main assumption is that in a free market the highest bidder will obtain the use of the land. The highest bidder is likely to be the one who can obtain the maximum profit from that site and so can pay the highest rent.
To this end, it is the systematic assessment of land and water potential, alternatives for land use, and economic and social conditions in order to select and adopt the best land use options. [1] Often one element of a comprehensive plan , a land use plan provides a vision for the future possibilities of development in neighborhoods, districts ...
This brings up the theoretical questions of space, place, and the social construction of both. Land-Use suitability requires a multicriteria analysis, which is allows assumptive and theoretical mapping to become actualized. [17] Most jurisdictions use land suitability analysis for site selection, impact studies, and land use planning. [18]
In most countries, legal systems have developed around the original administrative systems and use the cadastre to define the dimensions and location of land parcels described in legal documentation. A land parcel or cadastral parcel is defined as "a continuous area, or more appropriately volume, that is identified by a unique set of ...
[5] [6] The approach is now widely used to value many different goods whose quantity or quality might be affected by the decisions of a public agency or private developer. Three market-based techniques that have recorded a significant history of natural and environmental resource valuations are described; the market price approach, the ...
In modern times, however, this is rarely the case, as many people prefer to trade off the accessibility of being close to the CBD and move to the edges of a settlement, where it is possible to buy more land for the same amount of money (as the bid rent theory states). Likewise, lower-income housing trades off greater living space for increased ...