What is a key factor when applying the base-lot method of site valuation?

The base-lot method of site valuation relies heavily on establishing a standard base parcel value, which serves as the foundation for assessing the value of various lots in a particular area. This method involves using a predetermined value attributed to a basic lot and then making adjustments based on the characteristics of the specific lot being evaluated, such as its size, location, and improvements.

By starting with a standard base parcel value, assessors can create a consistent framework for comparison and valuation. This allows for a clearer analysis of how different factors influence the overall worth of a property. The establishment of this base value is essential because it provides a point of reference for making adjustments, ensuring that all valuations remain equitable and reflective of the market.

Factors such as market comparisons, the highest and best use of land, and future market trends can indeed play a role in the overall assessment process, but they do not form the cornerstone of the base-lot method itself. Instead, they can serve as supplementary information to enhance the accuracy of the valuation once a base value has been established.