Property Valuation
The 'highest and best use' of a property is defined as the use that meets all four of which criteria?
AProfitable, desirable, zoned, and approved by neighbors
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CCurrently generating income, zoned correctly, recently sold, and rentable
DAllowed by HOA, approved by the city, generating any income, and historically used
Explanation
Highest and best use must be: (1) legally permissible under zoning and regulations, (2) physically possible given site characteristics, (3) financially feasible to produce income or value, and (4) maximally productive—generating the highest value for the land.
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