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Welcome to the Division of Agriculture Education, Farm Safety and Farmland Preservation
Farmland Preservation Program
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Easement Restrictions
PACE Statutes
Easement Template (doc)(92.5kb)
Questions and Answers
Features and Benefits
Determine Your Easement Value
Tax Advantages
Application
(pdf)
Scoring Questionnaire
(pdf)
Evaluation Criteria
Program Status
State Easement Map
Click here to download the PACE Presentation in Powerpoint |
PACE Program Questions
What is a Conservation Easement?
A Conservation easement is a legal agreement a property owner makes to restrict the type and amount of development that can take place on his or her property.
Who is eligible?
All landowners who hold title to farmland which is being used, or is available for use, for agricultural production.
How is the Easement Value Determined?
- First, determine the fair market value of your land according to its development potential.
- Next, estimate the value of your land if its use is restricted to agriculture. The easement value for any given acreage will fall somewhere between the two.
- Landowners can use these two figures to help them determine an asking price. The landowner and the PACE Board will then negotiate the final conservation easement value.
- All transactions are subject to negotiations and restrictions established by the Board.
Example: a 200-acre farm
Appraised at fair market development value
$2,500 per acre = $500,000
Estimated farmland restricted value
$1,200 per acre = $240,000
Potential conservation easement value
$1,300 per acre =$260,000 |
Note:
Values are variable, subject to established appraisal procedures (302 KAR 100.020) for purchasing agricultural conservation easements |
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