4.3. Highest and Best Use.Market value must be determined by considering a property’s highest and best use, a term of art defined by the Supreme Court in 1934 as the “highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future.”275 The Court went on to explain that a property’s highest and best use must be considered “not necessarily as the measure of value, but to the full extent that the prospect of demand for such use affects the market value while the property is privately held.”276