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Simple English definitions for legal terms

optimal-use value

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A quick definition of optimal-use value:

Optimal-use value is the highest and best use of something from an economic standpoint. It means using something in the way that will give the most benefit or value. For example, if a farm would be worth more as a shopping center than as a farm, the shopping-center value will control even if the new owner continues to use the property as a farm. It's like using something in the smartest way possible to get the most out of it.

A more thorough explanation:

Definition: Optimal-use value refers to the highest and best use of a thing from an economic standpoint. It is the value that a property or asset would have if it were used in the most profitable way possible.

Example: If a piece of land is currently being used for farming, but it is located in an area where commercial development is booming, the optimal-use value of the land would be the value it would have if it were used for commercial development instead of farming. This value would be higher than the current value of the land as a farm.

This concept is important in taxation because it helps determine the fair market value of a property or asset. It is also relevant in business decision-making, as it helps determine the most profitable use of resources.

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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
babycat
9:55
it’s true he sent me feet pics (unsolicited!)
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