Uniform Standards of Professional Appraisal Practice (USPAP) – Requirements for all appraisal reports. Appraisers are required to comply with the Uniform Standards of Professional Appraisal Practice (USPAP).
Restricted Appraisal Report – A Restricted Appraisal Report is a brief report that includes fewer details than a conventional report. The appraiser’s research, analyses, and data used are kept in the appraiser’s work file. This type of report is not applicable to every appraisal problem.
Uniform Appraisal Standards for Federal Land Acquisitions (UASFLA, “Yellow Book”) – Most commonly called “Yellow Book,” this type of appraisal is for federal land acquisitions. There are additional uses, such as federal and/or state funding applications. Note: When completing a Yellow Book appraisal, the appraiser must follow both USPAP and Yellow Book requirements. Yellow Book generally has more regulations than a conventional report.
Conservation Easement (Conventional Format or Yellow Book Format)– This appraisal is for the purpose of determining the value of the property before the placement of a conservation easement, and the value of the property after the encumbrance of a conservation easement. The difference between the two values indicates the change in value due to the encumbrance of a conservation easement. These are often used to apply for state and/or federal funding or for conservancy-landowner negotiations. The report can be in conventional format or Yellow Book format. *This report does not meet the requirements for a tax deduction with the Internal Revenue Service (see below).
IRS Conservation Easement Appraisal Report – Like the conventional conservation easement, IRS CE Appraisal Reports are the appraiser's opinion of the change in value due to the encumbrance of a conservation easement. Many landowners who donate all or a portion of a conservation easement qualify for a tax deduction, which requires this specific type of appraisal. We encourage you to talk with your conservancy contact to discuss this option and hire a tax preparer who is familiar with conservation easement deductions. *This report must specifically follow IRS regulations. A previous report for other uses, such as funding applications, will not meet IRS regulations.