Which set of criteria must ALL be met to determine the highest and best use of a property?
Correct Answer
B) Legally permissible, physically possible, financially feasible, and maximally productive
Highest and best use must satisfy four tests simultaneously: (1) legally permissible — allowed by zoning and other regulations; (2) physically possible — supported by the site's size, shape, and soil; (3) financially feasible — capable of generating a positive return; and (4) maximally productive — producing the highest land value among feasible uses. All four criteria must be met; a use that fails any single test cannot qualify as highest and best use.
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