Property Valuation
Highest and best use analysis in Rhode Island appraisal determines the use that is:
ACurrently permitted by zoning regardless of market demand
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CPreferred by the property owner
DMost common in the surrounding neighborhood
Explanation
Highest and best use is the reasonably probable use of a property that is legally permissible, physically possible, financially feasible, and results in the highest value. It forms the foundation of the appraisal.
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