Historic Preservation (Fa├žade) Easements: Appraisal Techniques and Valuation Issues

Description

NEW SEMINAR! 
 
Appraisers are increasingly likely to encounter historic preservation easements in everyday appraisal assignments because of thousands of historic properties now protected by historic preservation easements. This one-day seminar focuses on appraisals used to support the value of a charitable gift of a historic preservation easement. It will introduce you to the complexities of appraising historic preservation easements, guide you through the appraisal process, and reveal how historic preservation easements affect prices in regular appraisal assignments.
Sponsor Date Location Delivery Format Check
State Approvals
 
Ohio Chapter September 23, 2022 Dublin, OH Classroom  Check Register

Program State Approval & Hours

Some AI educational programs may not be approved in every state and every delivery format. To see a list of all state approvals across all formats for this course, please use the link below.

View all approvals for this course

Who should Enroll

Residential and General appraisers

Objectives

  • Understand the similarities and the differences between a “conservation” easement and a “historic preservation” easement. 
  • Understand the typical provisions of a historic preservation easement, and how to handle the variations in possible easement provisions in the appraisal process.
  • Appreciate the central role of highest and best use analysis in historic preservation easement appraisal assignments.
  • Understand the differences between legal protections provided by local landmark/historic district designation and by listing in the National Register, how the protections in those designations differ from protections provided by preservation easements, and how to handle those differences in both highest and best use analysis and in arriving at an opinion of value.
  • Understand the “before and after” method as it applies in some charitable donation appraisal assignments and learn when the “before and after” method is and is not applicable.
  • Become familiar with accepted and appropriate techniques for finding, researching, and analyzing sales of easement encumbered properties and how and when to use them in a Sales Comparison Approach to value.
  • Understand when and how to apply the Income Approach to value of an easement encumbered property.
  • Understand when and how to apply the Cost Approach to value of an easement encumbered property.
  • Become generally familiar with the most significant Tax Court case law on preservation easement valuation and learn how to utilize the Tax Court cases as a check on the analysis and conclusions of a preservation easement appraisal assignment.

Prerequisites


Exam

No Exam

Level

Basic/Intermediate

Appraisal Institute CE Points

Attend: 35 AI Points

Class Time

7 hours

Program Overview


Required and/or Recommended Equipment

Calculator. A basic-function calculator is required.

System Requirements

None specified

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