Appraiser Opportunities: Conservation Easements in Virginia
Sponsored by Conservation Partners
Speakers:
· Nancy McLaughlin, Robert W. Swenson Professor of Law, University of Utah S.J. Quinney School of Law
· Stephen J. Small, Esq., Law Office of Stephen J. Small, Esq., P.C., Massachusetts
· Gerald R. Barber, Conservation Easement Appraiser, Land Planner, and President/Founder of Barber and Mann, Inc.
· Lore DeAstra, Land Preservation Tax Credit Analyst, Sr. Property Appraisal Consultant, General Legal and Technical Services, Virginia Department of Taxation
· Les Pruitt, National USPAP Instructor
Topics of Discussion:
Nancy, Stephen, and Gerald will conduct a panel discussion on the federal tax law requirements for conservation easement appraisals and recent valuation case law. Topics covered will include the federal tax law definitions of “fair market value,” “qualified appraiser,” and “qualified appraisal;” Treasury Regulation valuation rules; the definition of “highest and best use” and how it is applied in the conservation easement context; the quid pro quo rule; common conservation easement valuation abuses; and conservation easement appraisal “red flags.”
Lore will discuss various industry trends, a look into the Virginia Department of Taxation’s review process for Land Preservation Tax Credits, and various case studies in compliance.
Les will be presenting the requirements for compliance with USPAP.
Continuing Education:
3 Hours of CE credits from DPOR.
