What term refers to the cost of buying or renting land without considering structures?

The term that refers to the cost of buying or renting land without considering the structures built on it is "Land Values." This concept purely focuses on the value of the land itself, independent of any improvements or buildings that may be present.

Land values are influenced by various factors such as location, accessibility, and potential for development, making it a critical aspect in real estate and urban planning. Understanding land values helps in assessing the economic aspects of land use and development within urban environments, impacting decisions made by homebuyers, investors, and planners.

In contrast, building costs pertain to the expenses associated with the construction of structures on the land. Property taxes are based on the assessed value of both land and any structures, reflecting the tax obligations owed by property owners. Market value, while related to the overall price a property could fetch in the market, encompasses both the land and any buildings, making it broader than just land values. Thus, "Land Values" specifically captures the essence of the cost associated solely with the land itself.