What does the term 'maximally productive' refer to in the tests for highest and best use?

The term 'maximally productive' in the context of highest and best use refers specifically to the potential of a property to generate the highest possible return. This concept is grounded in the principle that land and properties should be utilized in a manner that achieves the greatest financial benefit. When conducting a highest and best use analysis, assessors evaluate various factors, including economic conditions, market trends, and the characteristics of the property itself to determine which potential use will yield the highest income.

While the other options are relevant to land use consideration, they do not encapsulate the essence of 'maximally productive.' Using the least amount of resources can lead to low-cost projects, but it doesn't necessarily correlate with maximizing financial returns. Meeting zoning regulations is important for legal compliance and feasibility, but it doesn't directly address the financial aspect. Similarly, being physically possible to implement ensures that a project can be constructed, yet it does not guarantee that it will be the most financially rewarding option. Hence, maximizing productivity fundamentally revolves around identifying and employing the use that offers the greatest return on investment.