<P> Like most other types of real estate, lots owned by private parties are subject to a periodic real estate tax payable by the owners to local governments such as a county or municipality . These real estate taxes are based on the assessed value of the real property; additional taxes usually apply to transfer of ownership and property sales . Other fees by government are possible for improvements such as curbs and sidewalks or an impact fee for building a house on a vacant lot . </P> <P> A lot has defined boundaries (or borders) which are documented somewhere, but the boundaries need not be shown on the land itself . Most lots are small enough to be mapped as if they are flat, in spite of the curvature of the earth . A characteristic of the size of a lot is its area . The area is typically determined as if the land is flat and level, although the terrain of the lot may not be flat, i . e, the lot may be hilly . The contour surface area of the land is changeable and may be too complicated for determining a lot's area . </P> <P> Lots can come in various sizes and shapes . To be considered a single lot, the land described as the "lot" must be contiguous . Two separate parcels are considered two lots, not one . Often a lot is sized for a single house or other building . Many lots are rectangular in shape, although other shapes are possible as long as the boundaries are well - defined . Methods of determining or documenting the boundaries of lots include metes and bounds, quadrant method, and use of a plat diagram . Use of the metes and bounds method may be compared to drawing a polygon . Metes are points which are like the vertices (corners) of a polygon . Bounds are line segments between two adjacent metes . Bounds are usually straight lines, but can be curved as long as they are clearly defined . </P> <P> When the boundaries of a lot are not indicated on the lot, a survey of the lot can be made to determine where the boundaries are according to the lot descriptions or plat diagrams . Formal surveys are done by qualified surveyors, who can make a diagram or map of the lot showing boundaries, dimensions, and the locations of any structures such as buildings, etc . Such surveys are also used to determine if there are any encroachments to the lot . Surveyors can sometimes place posts at the metes of a lot . </P>

1 lot of land is how many square feet
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