Land development is the process of improving raw land to support construction. This comprehensive process involves several steps including planning, acquisition of government permits, subdivision, construction of access roads, installation of utilities, landscaping, and drainage.
Acreage with no added improvements such as landscaping, drainage, streets, utilities, and structures.
Unimproved property refers to land that has not received any development, construction, or site preparation. It qualifies for capital gain or loss treatment, unlike improved property which is subject to ordinary income tax treatment.
