Property Valuation
In Delaware appraisal practice, what is 'highest and best use'?
AThe most profitable legal use of a property as if vacant✓ Correct
BThe use that generates the highest tax revenue
CThe current use of the property regardless of alternatives
DThe use designated by the local zoning ordinance
Explanation
Highest and best use is the reasonably probable and legal use of property that is physically possible, appropriately supported, financially feasible, and maximally productive — resulting in the highest value.
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