2) The highest and best use to which the property can be expected to be put in the immediate

Value Adjustment Board (VAB) · 2026-05-14 · agenda_item

This agenda item concerns how property value is determined, specifically focusing on the 'highest and best use' principle for tax assessment purposes. The Value Adjustment Board (VAB) in Pasco County will consider how current zoning, land use regulations, and any development moratoriums affect a property's potential value. This process involves reviewing legal precedents and guidelines for assessing underutilized or speculative properties. The VAB's decision will influence how property appraisers value land, potentially leading to reassessments based on legally permissible uses rather than current use. This review is early in the public process, as it is under consideration by the VAB. The work set in motion involves legal interpretation and property appraisal services. Contractors, suppliers, and service providers should engage with local government and appraisal professionals to understand potential impacts on property development and valuation. Early engagement can provide insight into future development opportunities and valuation trends.