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his property.
Easements, he said, are flexible documents. Specific terms can be tailored to individual landowners’ wishes and special values of their properties.
Easement donation does not open up an area to public access, nor does it relinquish property ownership. But certain rights are relinquished, and a cash value may be placed on these donated rights. .
This cash value qualifies as a tax—deductible donation. Easement donations may also result in reduced real estate taxes, federal estate taxes and Virginia inheritance taxes.
Easement values are based on fair market value appraisals before and after the donation. When deducted from federal income taxes, these values have sometimes been questioned by the Internal Revenue Service. -
“This has been a problem in the past,"Van Auken explained, “because the IRS had never been faced with determining the value of these donations. No one knew what they were worth.”
He said there are signs that easement value deductions will, in the near future, be questioned less frequently. His agency provides up-todate tax advice to all prospective donors, and suggests that area landowners inteerested in the easement
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