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Tracking the Effects of Conservation Easements on Property Tax Valuations

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  • Harpankar, Kshama
  • Taff, Steven J.

Abstract

We establish a procedure to track the tax valuation history of properties that are fully or partially restricted with conservation easements to test the assertion that easements result in lower property valuations. Easements didn't decrease property valuations; they merely decreased the rate of value for the affected properties. On average, the restricted properties' valuations increased at a rate lower than did those for unrestricted properties - but not always, and certainly not uniformly. Valuation policy is specific to the local tax assessor: no sweeping assertions about easements and property taxes is warranted.

Suggested Citation

  • Harpankar, Kshama & Taff, Steven J., 2004. "Tracking the Effects of Conservation Easements on Property Tax Valuations," Staff Papers 13493, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13493
    DOI: 10.22004/ag.econ.13493
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    References listed on IDEAS

    as
    1. Taff, Steven J., 2002. "Community-Wide Financial Impacts Of Preferential Assessments For Farmland Properties," Staff Papers 13244, University of Minnesota, Department of Applied Economics.
    2. Steven D. Shultz & Steven J. Taff, 2004. "Implicit Prices of Wetland Easements in Areas of Production Agriculture," Land Economics, University of Wisconsin Press, vol. 80(4).
    3. Jonathan R. King & Christopher M. Anderson, 2004. "Marginal Property Tax Effects of Conservation Easements: A Vermont Case Study," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 919-932.
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