Appraising Historic Preservation Easements and Impacts of Tax Appeals on Appraisal Practice

Define key concepts related to historic preservation easements, including typical legal protections and how they affect real property rights.

Identify qualifications for properties, appraisers, and assignments involving historic preservation, and determine necessary considerations before accepting such assignments.

Apply highest and best use analysis within the context of façade easement valuations and understand its implications in the appraisal process.

Differentiate between local landmark laws and federal preservation easements, and evaluate how these distinctions influence valuation methodology.

Develop value conclusions using all three traditional approaches—sales comparison, cost, and income—for properties encumbered by historic preservation easements.

Recognize current IRS valuation issues and relevant case law, and understand how these impact the defensibility and development of easement valuations.

Understand statutory and procedural requirements for appraisers engaged in property tax assessment appeals, including base periods, deadlines, and documentation.

Navigate the practical aspects of tax appeals, including treatment of leases, handling board hearings, and adjusting capitalization methods to reflect tax burden.

Formulate effective appeal strategies, including proper comparable selection, time adjustments, and presentation of evidence in a hearing or negotiation setting.

Communicate effectively with assessors and taxpayers, while maintaining professionalism and clarity about valuation roles, legal changes, and property-specific nuances.