Façade Easement: Inexpert Valuation

5 Pages Posted: 9 Jul 2012

See all articles by Wendy C. Gerzog

Wendy C. Gerzog

University of Baltimore - School of Law

Date Written: July 9, 2012

Abstract

The article discusses the recent Dunlap decision, which involved facade easement transfers to the National Architectural Trust, a qualified charity that preserves building easements across the country, although most are in New York City. Although allowing a deduction for their cash contributions to NAT to enforce the easement and not finding any penalties applicable, the Tax Court held that despite two valuation reports written by accepted valuation experts, the taxpayers had not established any value for their easement.

Keywords: Dunlap, expert valuation, facade easement, charitable deduction, burden of proof

JEL Classification: H21, H24, K34, L30

Suggested Citation

Gerzog, Wendy C., Façade Easement: Inexpert Valuation (July 9, 2012). Tax Notes, Vol. 136, No. 2, 2012. Available at SSRN: https://ssrn.com/abstract=2102466

Wendy C. Gerzog (Contact Author)

University of Baltimore - School of Law ( email )

1420 N. Charles Street
Baltimore, MD 21218
United States
410-837-4522 (Phone)

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