Which is NOT one of the four tests of highest and best use?

The concept of highest and best use in real estate appraisal is fundamental in assessing the value of a property based on its potential uses. The highest and best use is determined by evaluating four distinct tests: physically possible, legally permissible, financially feasible (or economically viable), and maximally productive.

The reason "emotionally acceptable" does not belong to the established criteria is that the tests are grounded in practical, measurable factors rather than subjective sentiments. Physical possibility relates to the property's characteristics and any limitations on its use due to physical constraints. Legally permissible pertains to zoning laws and regulations that determine what can legally be done with the property. Maximally productive focuses on the use that generates the highest return on investment.

"Emotionally acceptable," however, is a subjective assessment and does not fit the objective measures used to determine the highest and best use of a property within the routine framework of appraisal analysis. This distinction is crucial for appraisers who need to rely on clear, quantifiable factors rather than personal feelings or societal biases.