The page you requested has moved and you've automatically been taken to its new location.
Please update your link or bookmark after closing this notice.
Office of Planning, Environment, & Realty (HEP
49 CFR 24 - Non-Regulatory Supplements
Subpart B - Real Property Acquisition Donations
|Federal-Aid Policy Guide
February 16, 2006, Transmittal 35
|NS 49 CFR 24B
APPRAISALS OF PROPERTIES TO BE DONATED AND CLAIMED AS AN INTERNAL REVENUE SERVICE (IRS) CHARITABLE DEDUCTION (49 CFR 24.108). IRS regulations require that property donations with a value of $5,000 or more be appraised by a disinterested appraiser. Acquiring agency staff appraisers are not considered by the IRS to be disinterested. Therefore, if an owner desires an appraisal on a property in excess of $5,000 for the purpose of justifying the charitable contribution to the IRS, the appraisal must be made by a fee appraiser. IRS regulations further specify that the acquiring agency may not be the sole client of such fee appraiser. The State decides who actually does the appraisal in this situation.
DATE OF VALUE OF A DONATION (49 CFR 24.108). The fair market value of a donation shall be established as of the date that the donation becomes effective, or when equitable title vests in the acquiring agency, whichever is earlier.