Appraisers involved in the valuation of easement-encumbered properties have a new resource at their fingertips with the release of the Appraisal Institute’s latest book.
“Appraising Conservation and Historic Preservation Easements,” second edition, by Richard J. Roddewig, JD, MAI, CRE, FRICS, and Charles T. Brigden, MAI, CRE, FRICS, which was published under a licensing agreement with the Land Trust Alliance, is a landmark text for appraisers, land trusts, historic preservation organizations, tax professionals, attorneys, and state and federal agencies involved in the creation, donation and valuation of easements.
The book is divided into seven parts that provide a roadmap for these challenging assignments:
- Part 1 focuses on conservation and historic preservation easements, the tax code, Yellow Book and the real estate appraiser;
- Part 2 outlines general considerations in appraising conservation and historic preservation easements;
- Part 3 discusses the highest and best use analysis in conservation and historic preservation easements;
- Part 4 covers on the sales comparison approach to value in conservation easements;
- Part 5 provides an analysis of the cost approach to value in conservation easements;
- Part 6 analyses the income approach to value in conservation easements; and
- Part 7 addresses the process of reconciling the approaches, checking value conclusion, analyzing possible enhancements and reviewing appraisals.
“Appraising Conservation and Historic Preservation Easements,” second edition, is a 646-page soft cover book and also is offered as a PDF. It is available for $85 ($75 for Appraisal Institute professionals). Call 888-756-4624 or order online.