Architecture Board Exam - Site Planning Practice] Practice Exam

What is the 'Highest and Best Use' of a property?

The use that produces the highest current tax bill The legal, physically possible, and financially feasible use that results in the highest value The most common use in the neighborhood The use requested by the lender

Correct Answer:

The legal, physically possible, and financially feasible use that results in the highest value

Explanation:

Highest and Best Use is defined as the reasonably probable and legal use that is physically possible, appropriately supported, financially feasible, and results in the highest value.

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