Planning Commission

Definition of "Planning commission"

Governmental body having the responsibility for planning the future development of a jurisdictional area. A planning commission is responsible for developing and managing a zoning ordinance as well as interfacing with a professional planning department.

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Null or void something; Revoke or destroy; rescind or set aside; abandon; abolish; repeal; surrender; waive; terminate. In real estate, to void a buy ...

Assessed Value

Amount set for real estate or other property by a government as a basis for levying taxes. ...

Ordinary And Necessary Business Expenses

Tax term describing current and necessary business expenses. Ordinary and necessary business expenses do not include long-term capital losses. For exa ...

Annual Debt Service

Required total annual interest and principal loan payments. ...

Adverse Environmental Effects

Negative impact on living or working conditions associated with property or land developer actions. ...

Truss

In construction, a bracket or braced framework of triangulated bars, beams, and ties used for support in the construction of a roof. ...

Popular Real Estate FAQ

What Is A Deed?

A deed is a legal document that conveys the title to a property. ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. To get a quick ballpark figure, take the yearly inc ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on you ...

What Is A Lock In?

A lock in guarantees a certain interest rate for a certain period of time. ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount o ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the property. ...

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