Will a possible zoning change increase my recovery? What does highest and best use mean?
Absolutely could. Highest and best use is a legal term associated with eminent domain cases, and that means that the property is to be valued at its highest and best use in the reasonable and foreseeable future. One of the reasons we hire an urban planner is to investigate the potential future uses of the property. There are examples where large acreage tracts on busy commercial intersections may have cows on it for agricultural purposes. The land owner should not be paid as ag land, but should be paid for the highest and best potential commercial use of that property.
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