Which four criteria must ALL be met for a use to qualify as the highest and best use of a property?
Correct Answer
B) Legally permissible, physically possible, financially feasible, and maximally productive
Highest and best use is defined as the reasonably probable use of a property that is: (1) legally permissible — allowed by zoning and other regulations; (2) physically possible — supported by the site's size, shape, and terrain; (3) financially feasible — capable of generating a positive return; and (4) maximally productive — producing the highest value among feasible uses. All four tests must be satisfied.
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