Property Valuation
The term 'highest and best use' in appraisal means the use that is:
AThe most intensive use possible regardless of legality
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CThe current use of the property
DThe use preferred by the property owner
Explanation
Highest and best use is defined as the reasonably probable use that is legally permissible, physically possible, financially feasible, and that results in the highest value. This is the foundation of the appraisal process.
Related Oklahoma Property Valuation Questions
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