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Letter to J. Reid Williamson, Jr. <br />Historic Landmarks Foundation of Indiana, Inc. <br />June 1, 2004 <br />Page Two <br />By way of example, assume that a property owner donates a valid conservation easement <br />to a qualified holder with the purpose of protecting in perpetuity an historic structure located on <br />the property owner's property, and that the appraised fair market value of the property as of the <br />assessment date is $200,000.00 prior to the donation and is $170,000.00 taping into account the <br />granting of the easement. In this example, the donation of the conservation easement resulted in <br />a 15% reduction in the fair market value of the property. Therefore, in order for the assessed <br />value of the real property to "reflect the easement," the assessed value shall be reduced <br />accordingly. <br />Thank you for your assistance in bringing this matter to the Department's attention. <br />Sincerely, <br />Gi;�- �J, <br />Beth H. Henkel <br />Commissioner <br />