Who gets the appraisal to determine the conservation easements value for tax purposes and how is the value determined?
The landowner typically engages and pays for the qualified appraisal to determine the easement’s value. The GRVLT can provide the landowner with a list of appraisers who may be able to complete the appraisal depending on their schedules. As a general rule, the easement’s value equals the difference between the fair market value of the land before the easement’s in place and the fair market value of the land after the easement’s in place. This is called the “before and after” test.
Related Questions
- Who obtains the appraisal to determine the value of the conservation restriction for tax purposes and how is the value determined?
- Who gets the appraisal to determine the conservation easements value for tax purposes and how is the value determined?
- What happens to tax revenue and value after a conservation easement is in place?
