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| IMPROVED LAND :
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| Any parcel of land which has been changed from its natural state through the creation of roads, buildings or other structures. |
| IMPROVEMENT RATIO :
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| The comparative value of an improved piece of land to its natural, unaltered state. |
| IMPROVEMENTS :
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| Any item added to vacant land with the intent of increasing its value or usability. |
| INCOME APPROACH:
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| The process of estimating the value of property by considering the present value of a stream of income generated by the property. |
| INCOME PROPERTY :
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| A piece of property whose highest and best use is the generation of income through rents or other sources. |
| INDEPENDENT APPRAISAL :
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| An estimation of value created by a professional, certified appraiser with no vested interest in the value of the property. |
| INSPECTION :
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| The examination of a piece of property, its buildings or other amenities. |
| INSURABLE TITLE :
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| The title to property which has been sufficiently reviewed by a title insurance company, such that they are willing to insure it as free and clear. |
| INTEREST RATE :
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| A percentage of a loan or mortgage value that is paid to the lender as compensation for loaning funds. |
| INVESTMENT PROPERTY :
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| Any piece of property that is expected to generate a financial return. This may come as the result of periodic rents or through appreciation of the property value over time. |
