The value of a conservation easement donation is generally equal to the value of the highest and best use of the property without easement restrictions ("before value") minus its value with the easement in place ("after value"). This calculation is the work of a qualified appraiser. Under the IRS code, the landowner must acquire an appraisal to support any income tax deduction he or she wishes to claim.

An appraisal is an unbiased, thorough report of property value based upon comparable property sales. Landowners should expect analysis, not advocacy. The appraiser is bound ethically and legally to render a disinterested, objective, and supportable estimate of value, and must be prepared to defend his findings before the IRS.

A good conservation easement appraisal should include the following information:

• An analysis of the property, including topography, orientation, wetlands, road access, soils, vegetation, utilities, general appearance, and constraints on use.
• A review of federal, state, and county regulations that affect use of the property.
• Analysis of development and sales market activity in the area to determine comparable sales.
• Evaluation of one or more highest and best use plans for the property.
• Evaluation of the conservation easement’s effect on uses.
• Summary report including all of the above.

A landowner may seek a preliminary appraisal for planning purposes. If the project proceeds, the landowner seeks a complete narrative appraisal that complies with appraisal standards and is supported by adequate and relevant market analysis.

Neither the Land Trust nor the landowner may tell the appraiser what value must be established. However, the landowner may provide the appraiser with the following information to expedite the appraisal:

1. Property deed, and/or Title Search
2. Assessor's map of Property
3. Property survey
4. Available comparable sales data
5. Easement draft, (near its final form)
6. Baseline resource assessment
7. Current zoning regulations
8. Notes on property access