The term 'highest and best use' in real estate appraisal refers to the financially, legally, and physically possible use that, at the time of appraisal, is most likely to produce the greatest net return to the land or buildings over a given period.
Land-use planning is an activity, generally conducted by a local government, that provides public and private land-use recommendations consistent with community policies. It is commonly used to guide decisions on zoning.
