Who establishes the dollar value of a conservation easement?
An appraisal will determine the value of the property before and after the encumbrance of a conservation easement. The gift value of the easement, which establishes the amount of a federal income tax deduction and state tax credit, is the difference between these two figures. An appraisal should be done by a certified appraiser who has experience with conservation easements lands, with local real estate conditions, and with the particular type of land use in question. Appraisers who are qualified, but who lack such specialized experience, should perform the work under the supervision or mentorship of a more experienced appraiser. A new federal statute requires that appraisers be certified or accredited by a national organization. Palmer Land Trust requires that the appraiser engaged is acceptable to tax credit brokering (or accounting services) firms. Do not engage an appraiser until you have received verification from at least one such firm. The Land Trust requires written verificatio
