Property Valuation
Which of the following BEST defines 'highest and best use' of a property?
AThe current use of the property
BThe use that produces the highest sale price
CThe legally permissible, physically possible, financially feasible, and maximally productive use✓ Correct
DThe use preferred by the surrounding neighborhood
Explanation
Highest and best use is the reasonably probable use that meets all four criteria: legally permissible, physically possible, financially feasible, and maximally productive (highest value).
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