Definitions for "ABSTRACTION METHOD"
A method of estimating the value of land by establishing a ratio of site value to total property value based on data from comparable improved properties. The ratio derived from comparable properties is then applied to the total value of the property being appraised to estimate the value of the land.
A method by which the value of land may be established. Uses comparable, improved properties and establishes a ratio of their original land value to their value after they have been developed.
This method of estimating the value of property uses similar properties available in the same market to extract the value of a parcel of land.