Valuation of conservation easement leads to battle of experts

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Abstract: Judges aren’t valuation experts. Their role is to weigh the evidence on the record and determine the value of property based on expert opinions. This article summarizes a recent U.S. Tax Court case that provides guidance on the method used to value a conservation easement for charitable deduction purposes, as well as valuable insight into the court’s role in evaluating expert testimony. Champions Retreat Golf Founders, LLC v. Commissioner, T.C. Memo 2022-106 (Oct. 17, 2022).