Which term is used for the decrease in land value due to development factors?

The term that accurately describes the decrease in land value due to development factors is depreciation. In the context of property and land assessment, depreciation refers to the reduction in value that can occur over time as a result of various factors including physical wear and tear, economic shifts, and changes in market demand or neighborhood development.

When development occurs, it can lead to situations where the original value of the land may be diminished due to a variety of influences such as overdevelopment, negative change in community demographics, environmental factors, or new zoning laws. This loss of value is recognized as depreciation within real estate evaluation.

The other options do not convey the same aspect as depreciation does. Deterioration typically refers to the physical condition of a property rather than its market value related to development. Discount usually relates to a reduction in price or value but does not specifically address the context of land value declines due to external development influences. Devaluation might suggest a broader decline in value but is not as precise in describing the factors specific to land affected by development as depreciation is.