The contribution deduction passed through by the S corporation to the shareholders for the gift to the charitable organizations was measured by the property's fair market value (FMV), as burdened by the scenic easement
If the owner donates a scenic easement
on the property but retains the right to divide the property into 10 acre parcels and build one house on each parcel, no contribution deduction will be allowed because any building on the property would destroy the scenic view from the park.
Thompson has written several articles related to rural appraising and won The Appraisal Journal's 1986 Manuscript Competition with his article, "Busterback Ranch: Valuing Water Rights in A Scenic Easement
Protection of the Mississippi River corridor was required by "appropriate route selection, effective control and development, and scenic easement
Sixty acres of this second sale were donated to a qualified organization for a scenic easement
prior to the sale of the entire parcel.
That is, when the land possesses scenic or natural beauty, a charitable deduction of a scenic easement
in the property under Internal Revenue Code (IRC) Section 170 is possible.
Projects that may be considered include: pedestrian or bicycle facilities; provision of safety and educational activities for pedestrians and bicyclists, acquisition of scenic easements
and scenic or historic sites; scenic or historic highway programs; landscaping and other beautification; historic preservation; rehabilitation and operation of historic transportation buildings, structures or facilities - including historic railroad facilities and canals; preservation of abandoned railway corridors - including conversion for use as bicycle or pedestrian trails; archaeological planning and research.
The property rights effect, which was anticipated to be negative, translated into a discount of about 30%, a significant figure consistent with several tax court decisions on the value discounts associated with open space and scenic easements
When completed, the Flight 93 National Memorial will encompass 2,200 acres of land, of which almost 1,300 acres will be dedicated to the design features, and 900 acres will be protected through partnerships and scenic easements
Eligible projects include inventory, preservation, and enhancement of the qualities of byways; safety improvements; construction of bike and pedestrian facilities; and resource protection such as scenic easements
and byway marketing.
Section] acquisition of scenic easements
and scenic or historic sites;
Eligible under this program are planning projects to inventory, preserve and enhance the qualities of the byway, safety improvements, construction of bike and pedestrian facilities, development of visitor information such as brochures and interpretive facilities and scenic overlooks, resource protection such as scenic easements
and byway marketing.