Property Valuation
The 'highest and best use' of a Vermont parcel is defined as the use that is:
AThe most expensive use possible
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CThe current use of the property
DThe use the owner prefers
Explanation
Highest and best use is the reasonably probable use of a property that is (1) legally permissible under current zoning and restrictions, (2) physically possible given site characteristics, (3) financially feasible (produces positive returns), and (4) maximally productive (produces the highest land value). It underlies all appraisals.
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