landvaluation
nounUK /ˈlændˌvæljuˈeɪʃən/
US /ˈlændˌvæljuˈeɪʃən/
Landvaluation is the act of figuring out how much a piece of land is worth.
The bank ordered a landvaluation before approving the loan for the farm.
RELATED WORDS
OTHER MEANINGS
2. The official process of setting a value on land for tax purposes.
The county completed a landvaluation to update property taxes.
3. An expert's written opinion stating the estimated worth of a plot of land.
The landvaluation report showed the lot was worth more than expected.
4. The act of judging the quality or usefulness of an area of ground.
Before building, the team did a landvaluation to check if the soil was safe.