Property Valuation
In West Virginia, a property's 'highest and best use' is defined as:
AThe use that generates the highest gross income regardless of costs
BThe reasonably probable and legal use that is physically possible, appropriately supported, and financially feasible that results in the highest value✓ Correct
CThe use currently authorized by zoning only
DThe most intensive use permitted under the building code
Explanation
Highest and best use is a foundational appraisal concept: the legal, physical, financially feasible use that produces the highest value. West Virginia appraisers analyze highest and best use as vacant and as improved to determine the appropriate valuation approach.
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