highest and best use(redirected from Highest and Best Uses)
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Highest and Best Use
highest and best use
In public appraisal and tax appraisal, that use of land which would be the most economically advantageous over a given period of time,while at the same time being legally, financially,and physically possible.A 5-acre residential estate within minutes of downtown Houston would have a highest and best use if it were developed for offices,and therefore should be appraised with that use in mind.Many property tax laws allow exemptions and appraisal at current use rather than highest and best use.