What is assemblage in the context of land appraisal?

Assemblage refers to the act of combining two or more parcels of land together to create a single, larger parcel. This process can enhance the value of the land due to the improved potential for larger developments or more efficient use of the land. The principle behind assemblage is that the combined value of the larger parcel is often greater than the sum of the individual parcels, primarily due to the increase in utility, marketability, and potential for development.

In the context of land appraisal, understanding assemblage is crucial as it affects property value assessments. Appraisers must recognize the potential benefits and changes in value that can arise from combining properties, as these factors greatly influence investment decisions and land use strategies.

Other concepts, such as evaluating environmental impacts, subdividing land, or analyzing zoning laws, focus on different aspects of land appraisal and do not specifically define the process of assemblage.