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What is the purpose of an appraisal of a conservation easement?

The monetary value of a conservation easement is the market value of those property rights and restrictions conveyed by a landowner to a Land Trust. An appraisal estimates the value of those rights by calculating the impact of the easement on the value of the protected property.

The appraisal may have several uses. For charitable contribution purposes, the appraised value of the easement is used to determine the amount of the income tax deduction. In this case, the appraisal procedure and report must conform to specific IRS standards. See Treasury Regulations §1.170A-13(c) and §1.170A-14(h) for more detail.

An appraisal may also be important for financial estate planning or in reviewing value for property tax purposes.

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