Highest and best use definition

Highest and best use means the rea- sonable and most probable use of the property that would result in the high- est market value of vacant land or im- proved property, as of the date of valu- ation; or that use, from among reason- ably probable and legally alternative uses, found to be physically possible, appropriately supported, financially feasible, and which results in the high- est land value.
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Highest and best use means the reasonably probable legal use of a property that is physically possible, appropriately supported, and financially feasible and that results in the highest value of the property.
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Highest and best use means the reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value.
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Examples of Highest and best use in a sentence

  • Highest and Best Use The Appraisal Report shall include a highest and best use analysis of the Premises as improved and as if vacant.

  • Highest and Best Use: Low Density Rural Residential Home Site Development.

  • Review Appraiser Responsibilities under the Uniform Act: • Confirmation of Analysis of Highest and Best Use, Damages, and Cost to Cure Damages.

  • I highly recommend them to any community seeking to effectively recruit retail .” Xxxx Xxxxx, CEcD, Executive Director Previously Bastrop, Texas Economic Development Corporation PHASE 3 Highest and Best Use Analysis Highest and Best Use Analysis The Retail Coach will analyze properties throughout Buda and determine their highest and best use.

  • The Dictionary of Real Estate Appraisal, 5th Edition, Appraisal Institute, Page 93 The current use as a propane storage and transfer station meets the Highest and Best Use tests.


More Definitions of Highest and best use

Highest and best use means the reasonably probable legal use of a
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Highest and best use means the most probable legal use of a property, based on market evidence as of the date of valuation, expressed in an ap- praiser’s supported opinion.
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Highest and best use means the physically possible, legally permissible, financially feasible, and maximally productive use of a property, as appraised in accordance with RSA 75:1. Rev 601.26 Improvement means any physical change to either land or to buildings that may affect value. Rev 601.27
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Highest and best use means the legal use that will produce the highest return to the trust over an extended period of time, including interim use.
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Highest and best use means the reasonably probable and lawful use of property, that is physically possible, financially feasible, and that results in the highest value;
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Highest and best use means the reasonably probable and legal use of vacant land or improved property, which is physically possible, for which demand is appropriately evidenced, supported, financially feasible, and that results in the highest value.
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Highest and best use means the most likely use to which a property can be put, which will produce the highest monetary return from the property, promote its maximum value, or serve a public or institutional purpose. The highest and best use determination must be based on the property’s economic potential, qualitative values (social and environmental) inherent in the property itself, and other utilization factors controlling or directly affecting land use (e.g., zoning, physical characteristics, private and public uses in the vicinity, neighboring improvements, utility services, access, roads, location, and environmental and historical considerations). Projected highest and best use should not be remote, speculative, or conjectural.
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