parcel

Definition

A discrete unit of land that can be bought, sold, or taxed as a single entity—essentially real estate Legos that local governments use to organize property ownership. It's the official way of saying "this chunk of dirt is yours" with legal boundaries, documentation, and the inevitable property tax bill. Not to be confused with the thing Amazon drops on your doorstep.

Example Usage

We're subdividing the 10-acre parcel into five separate parcels, which will quintuple the property tax revenue for the county.

Source: Common industry terminology

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