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Highest And Best Use Determinations In Agricultural Land Assessments, Matthew Elliott, Lisa Elliott, Tong Wang
Highest And Best Use Determinations In Agricultural Land Assessments, Matthew Elliott, Lisa Elliott, Tong Wang
Matthew Elliott
Determining highest and best of use (HBU) is necessary for supportable Ag land assessments. In this study,
we determine HBU and most probable use (MPU) of South Dakota Ag land as either cropland or grassland.
To determine HBU, we simulate net returns for cropland and grassland for every possible combination of
the productivity and legal dimensions using the APEX model and copula approach. To determine MPU,
we use random forest classification given net returns, risk, topography, and soil productivity ratings. We
discuss the impacts of using MPU, HBU, and soil ratings for determining use for Ag land property
assessments.