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| United State Federal Reserve System - A governmental regulatory agency with responsibility for maintaining the health of the economy through its regulation of the money supply and rate of interest. |
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| United States Public Land Survey - The land survey begun by the United States Congress in 1785 upon which the federal rectangular survey system is based. |
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| Unit-in-place method - A method of cost estimating in which all the direct and some of the indirect costs of each individual construction component (such as the foundation walls) are specified in appropriate units (such as area, volume, or length), multiplied by an estimate of the quantity required by the particular structure, and added to obtain an estimate of the cost of the structure. Compare comparative unit method (sense 2) and quantity survey method. |
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| Universal transverse Mercator - The transverse Mercator projection used in the United States . Universal transverse Mercator projection zones are 6 degrees of longitude wide and cross civil boundaries. |
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| Usable area - The area of land that can be used, or the equivalent area after allowance for irregular topography. |
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| Use class - (1) One of the following classes of property: single-family residential, multifamily residential, agricultural, commercial, industrial, vacant land, and institutional/exempt. (2) Any subclass refinement of the above-for example, townhouse, detached single-family, condominium, house on farm, and so on. |
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| Use code - A code to indicate a property's use class or, less often, potential use. |
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| Use value - The value of property for a specific use. |
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| Use-value (farmland) assessment laws - Laws that require or permit assessors to appraise and assess property as though the property were subject to an enforceable restriction that forbade putting the land (or the entire property) to any use but the present one. Typically there is no such permanent enforceable restriction, but assessors may nevertheless be required to assess certain property types, especially agricultural land, and to a lesser extent historic properties, as though the restriction were real. In such instances the sales comparison approach may be inapplicable, and a version of the income approach may be required. |
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| Utility - The satisfaction obtained from the goods and services that a consumer consumes. |
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