Compensation for easements and 30-year contracts.

CFR · 2024-01-01 · US · Title 7

(a) (2) Payments for 30-year easements, nonpermanent easements as limited by State law, or 30-year contracts will be not more than 75 percent of that which would have been paid for a permanent easement as determined by the methods listed in paragraph (a)(3) of this section. (3) NRCS will pay as compensation the lowest of the values from paragraphs (a)(3)(i) through (iii) of this section: (i) The fair market value of the land using the Uniform Standards for Professional Appraisal Practices or based on an area-wide market analysis or survey, (ii) The geographic area rate cap determined under paragraph (a)(4) of this section, or (iii) A written offer made by the landowner. (4) Each fiscal year NRCS, in consultation with the State technical committee, will establish one or more geographic area rate caps within a State. NRCS will determine the geographic area rate cap using the best information which is readily available in that State. Such information may include soil types, types of crops capable of being grown, production history, location, real estate market values, and tax rates and assessments. (b) (2)(i) For easements or 30-year contracts valued at $500,000 or less, NRCS will provide compensation in up to 10 annual payments, as requested by the participant, as specified in the agreement to purchase or 30-year contract between NRCS and the participant. (ii) For easements or 30-year contracts valued at more than $500,000, NRCS may provide compensation in at least 5, but not m

official document · source cfr-2024 · id 7:§ 1468.34