Undeveloped Land means raw land that has not been filled to grade or been permitted for development.
Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.
Developed Land means non-vacant land that is likely to be redeveloped during the planning period.
Developed Property means all Assessor’s Parcels of Taxable Property for which Building Permits were issued on or before May 1 of the prior Fiscal Year, provided that such Assessor's Parcels were created on or before January 1 of the prior Fiscal Year and that each such Assessor's Parcel is associated with a Lot, as determined reasonably by the Board.
Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.