Property Valuation
The principle of 'highest and best use' in appraisal refers to the use that is:
ACurrently approved by zoning regardless of economics
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CThe use the seller intends
DThe use designated by the local planning commission
Explanation
Highest and best use is defined as the reasonably probable use that meets four tests: it must be legally permissible, physically possible, financially feasible, and maximally productive (producing the highest value).
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