Which four tests must a use satisfy 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, deed restrictions, and other regulations; (2) physically possible — supported by the size, shape, topography, and other physical characteristics of the site; (3) financially feasible — likely to generate a positive return; and (4) maximally productive — producing the highest value among all feasible uses. All four tests must be met simultaneously for a use to qualify as highest and best use.
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