2020 Highest & Best Use
The HBU page has changed markedly for 2020. The page is mostly narrative, but contains an upper section setting forth the subject's real estate taxes, assessments, etc. (red box), and zoning information (green box). The newest requirement is the "Land in Transition" statement; AgWare prefers only a yes/no response in the yellow box below --- but can be overridden for any text. The comment area below the yellow box is intended to explain the yes/no answer --- especially if the response is "yes".
There are four (4) "use" statements that transfer to the Report Summary pages (single and dual property situations) --- typically at the beginning of the report. These are:
- Current Use (in green box)
- As if Vacant (top of form)
- As Improved (middle of form)
- HBU Conclusion (bottom left)
The Current use is the first entry in the green section.
"Use" statements 2-4 are shown below.
The "As Improved" section should include a statement concerning the Consistent Use Theory (Valuing Rural America, American Society of Farm Managers and Rural Appraisers (ASFMRA), Denver, CO, page 58.
The verbiage was copied randomly from several appraisals and may not synchronize with the 2020 Case Study material and used only as examples of layout and flexibility.