For Property Owners
Demolition is common practice in local real estate transactions. Historic preservation easements open the door to development incentives and tax deductibility. In our community, these tools are new, and very few owners, realtors, or developers are aware of the benefits they offer. Under historic preservation easements, owners may be eligible for a federal income tax deduction for the value of the easement, and federal estate taxes may also be reduced.
There are three different ways a property can be recognized for its historic significance. Each type of listing has a very different application process and incentives for which a successful listing may make you eligible.
- Town of Jackson Historic Register
- Teton County Historic Preservation Board List of Significant Historic Properties
- National Register of Historic Places
The Teton County Historic Preservation Board is the community contact for these listings. To learn more or get assistance, contact them.
Teton Trust Easement Services
Easements are voluntary contracts between owners and the Trust. The contract documents the property owner’s desire to protect the historic character of the property in perpetuity.
Teton Trust for Historic Places provides four easement management services.
- Easement contracts: We work with property owners to write and execute the easement contract.
- Easement Monitoring and Documentation: Teton Trust monitors and documents the property’s integrity, maintenance, and historic features over time. The Trust also works with property owners who wish to make alterations, additions, or enhancements to the easement property, offering easement-compliant options before changes are made.
- Determination: If changes have been made to the property that may be inconsistent with the easement agreement, the Teton Trust board serves as the agency to review changes and determine if the changes are a violation.
- Stewardship: The Teton Trust works with property owners to correct any problems as indicated by both the easement contract and according to national preservation standards.
Most local easement contracts include monitoring and documentation only. Teton Trust for Historic Places is run by a board of directors with the experience and professional expertise appropriate for determination as well.
We are currently monitoring the preservation easements on the Genevieve Block buildings and assuming new easements that result in property owner eligibility for incentives, such as the transfer of development rights. While our board members are very well credentialed and experienced, starting the only active historic preservation easement program in Wyoming has certainly been a learning experience and we continue to evolve as we complete our organizational start-up activities.
The rate of development in our community is spurring the urgency of our work. Development tools included in the town and county’s historic preservation land development regulations are becoming more attractive as undeveloped private land dwindles. The pace of development combined with the complexity of historic preservation tools necessitates professional, timely programs and services.