Determining an appropriate after-easement value is the subject of much debate among those involved with the appraisal of conservation easement properties. Jack K. Mann and Gerald R. Barber have over 25 years of combined experience with easement assignments and have sought to incorporate all of the latest techniques and available data in an effort to establish reasonable approaches to the valuation of these properties.

The very foundation of this approach is based on the Bundle of Rights theory and

the fact that some of the rights inherent in the ownership of real estate will be taken away through the placement of a conservation easement on the property. Therefore, a discussion of the Bundle of Rights approach to value will be presented first and includes the effects that the typical conservation easement will have on a property.

Since the methods of determining an after easement value have changed through the years, an evolution of the after easement value by Jack K. Mann will also be presented. This synopsis gives a history of how values were determined based on the information available at the time.

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This article has been provided by Jack K. Mann, MAI, CRE and Gerald R. Barber, ASLA, IAAO of Barber & Mann, Inc. as a service to the Private Landowner Network and should be used for educational purposes only.