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  2. Highest and best use - Wikipedia

    en.wikipedia.org/wiki/Highest_and_best_use

    The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...

  3. Land value tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Land_value_tax_in_the...

    Nearly 20 Pennsylvania cities employ a two-rate or split-rate property tax: taxing the value of land at a higher rate and the value of the buildings and improvements at a lower one. This can be seen as a compromise between pure LVT and an ordinary property tax falling on real estate (land value plus improvement value). [19]

  4. Land value tax - Wikipedia

    en.wikipedia.org/wiki/Land_value_tax

    Real estate values. The value of land reflects the value it can provide over time. This value can be measured by the ground rent that a piece of land receives on the market. The present value of ground-rent is the basis for land prices. A land value tax (LVT) will reduce the ground rent received by the landlord, and thus will decrease the price ...

  5. Real estate appraisal - Wikipedia

    en.wikipedia.org/wiki/Real_estate_appraisal

    Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value).Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a ...

  6. Property tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Property_tax_in_the_United...

    Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...

  7. Market value - Wikipedia

    en.wikipedia.org/wiki/Market_value

    Market value is the most commonly used type of value in real estate appraisal in the United States because it is required for all federally regulated mortgage transactions, and because it has been accepted by US courts as valid. However, real estate appraisers use many other definitions of value in other situations. Liquidation value

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