In a land to building ratio of 1-4, what does the '1' represent?

In a land to building ratio of 1-4, the '1' represents the portion of the total value allocated to land. In this context, the ratio illustrates the relationship between the value of the land and the value of the building constructed on that land. Specifically, for every unit of value assigned to the land (the '1'), there are four units of value assigned to the building (the '4'). This means that the land accounts for 20% of the total value when combining both land and building values, confirming that the '1' is indeed indicative of the value attributed to land in this ratio.