Is speculation that a property could be rezoned sufficient to constitute a particular use or the highest and best use of the property?
British Columbia, Canada
The following excerpt is from Lulu Island Holdings Ltd. v. GVSDD, 2007 BCSC 938 (CanLII):
Thus, mere speculation that a property could be rezoned will not suffice to constitute a particular use or the highest and best use of the property. See also Fritz v. Sicamous (District) (2004), 83 L.C.R. 286 (B.C.E.C.B.) at paras. 101-108 (holding that a possibility of severance of a property that was neither applied for nor approved was too remote and speculative to be considered in assessing market value).
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