Contact Us & Receive Updates

Conservation easement ruling

As investigations continue into faulty tax returns in Colorado regarding the conservation easement tax deduction, a US tax court judge has given a ruling on one land contribution.

The judge ruled that Nick Hughs, a Gunnison County rancher, claimed an inflated value of his easement in 2000. Hughs said his donation was worth $3.1 million, while IRS engineers claimed the donation should be valued between zero and $238,135. In a win for the conservation community, the judge ruled that the charitable contribution was worth $2 million, thus setting a precedent that easements do affect propety values, and land owners should be rewarded for limiting development of their land.

For more information, read the article in the Denver Post.

Comments are closed.

Contact Us & Receive Updates