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A property's split history determines its development potential and value. Two identical parcels can be worth vastly different amounts depending on how many times they've been divided or how many more divisions are allowed.
A property's split history determines its development potential and value. Two identical parcels can be worth vastly different amounts depending on how many times they've been divided or how many more divisions are allowed.
Because of this system, the history of property becomes extremely important. Two parcels that look identical today may have very different histories. One parcel may have never been divided since the parent parcel date. Another parcel may have already used most or all of its allowable splits. That difference can dramatically affect the development potential of that particular property and correspondingly its valuation.
