What are the Legal and Business Issues for Buyers When addressing the Agriculture Conservation Easement in the State of Wisconsin?

Introduction
Wisconsin chapter 709 disclosures by owners of real estate highlight the issue of agriculture conservation easement. A conservation easement is a deed restriction landowners voluntarily place on their property to protect resources.
Tax Incentives
Through the Purchase of Agricultural Conservation Easements program, Wisconsin will provide funding to cooperating local governments or non-profit organizations to purchase easements from willing landowners. Land with an agricultural conservation easement cannot be developed for any purpose that would prevent its use for agriculture. Wisconsin provides property tax incentives, allowing donors to deduct the value of the easement from the assessed value of the property.
Fair Market Value The development approach is used by appraisers to value vacant land that has the potential for development as a subdivision when that use represents the likely highest and best use of the land. The courts' treatment of the development approach is best understood against the backdrop of highest and best use jurisprudence, which reflects the tension between the recognition that the fair market value of land is often based upon its potential as well as actual uses, and the legal requirement that valuations in takings cases be based upon reasonable probabilities rather than speculation or assumption.
Conclusion
Being a buyer of vacant land under Wisconsin Easement has its incentives, however the implications of filing for easement has to be worth the risk. The best way to diminish this risk on the land is to benchmark land values from across the county.
Endnotes