Which factor of highest and best use evaluates whether the value of the use is worth the cost?

The factor that evaluates whether the value of a particular use is worth the cost is financial feasibility. This concept assesses the economic viability of a project, determining if the expected benefits justify the expenses involved. It involves analyzing potential income generated by the use against the costs required for development, maintenance, and operation.

In the context of highest and best use, financial feasibility is crucial because even if a use is legally permissible and physically possible, it must also make financial sense to be considered optimal. A use that is not financially feasible could lead to losses or an inability to sustain operations, thereby negating its value.

Other factors like maximum productivity focus on the most efficient use of land for generating profit, while legal permissibility ensures that the intended use complies with zoning laws and regulations. Physical possibility examines whether a proposed use can be constructed or maintained given the site characteristics. While these aspects are important, they do not specifically address the cost-benefit analysis that defines financial feasibility.