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highest and best use |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Typically, a property such as this sits on a large piece of land but does not represent the land's current highest and best use. The city is utilizing Olympia & York consultants for a highest and best use study. ``That is one of those (properties) that, if you were to take its highest and best use, you can see what the value would be,'' California Performance Review spokesman Russ Heimerich said. |
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