Tax Benefits and Appraisals of Conservation Projects

 

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Registration deadline is October 29, 2007. Registrations received after 10/29 will not be able to have a paperback edition of the student guide the day of the event and will need to use a photocopied version. Download a registration form (pdf 16 KB)

 

When: Saturday, November 10, 2007 from 9 a.m. to 4 p.m.

Where: Room 210 Fisk Hall, Wesleyan University, Middletown CT.

Fisk Hall is located at 262 High Street, on the corner of High Street and College Street. Parking is directly behind the building. Directions to Fisk Hall

Cost: $40

The Connecticut Land Conservation Council is pleased to offer a Standards and Practices Curriculum course from the Land Trust Alliance.

Tax Benefits and Appraisals of Conservation Projects

Do you fully understand the tax code requirements for conservation easement donations? Do you know how appraisers come up with the figures they do? If not, this course is for you! 

 

This course provides an overview of issues involved with appraising conservation projects and the new 2006 changes to the federal law affecting donations of conservation easements. You will become familiar with the different components of IRC § 170(h), forms 8282 and 8283, and will be able to explain a "qualified contribution" and "qualified donee". You will learn the basic techniques appraisers use in putting a value on conservation easements.

 

In this day and age, every land trust needs to know how to review an appraisal for consistency with tax code requirements and with regional values.

 

Indicator Practices Covered: 10-A Tax Code Requirements; 10-B-Appraisals.

Presenters

Linda P. Francois, Esq., is a practicing attorney in the New Haven, CT law firm of Cooper, Whitney, Cochran & Francois. She has a general civil practice with a concentration in land conservation transactions, representing individuals, towns and land trusts in land preservation transactions throughout Connecticut. Ms. Francois has served as president of the Bethany Land Trust, Inc. for 12 years.

Richard P. McDermott, MAI, is President of R.P. McDermott Associates, Inc., a real estate firm providing commercial appraisal, review and consulting services in Bloomfield, CT. He and his firm have completed appraisals for conservation clients including the Department of Environmental Protection, CT Farmland Preservation Program (DOAG), The Trust for Public Land, The Nature Conservancy, corporations and private parties, and various CT land trusts and municipalities.