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(2) If petitioner can value one or more tracts of the
property under section 2032A(e)(7), which of the following
valuation procedures applies:
(A) Can petitioner value all of the tracts as section
2032A(e)(7) property, including timberland, standing timber, and
pastureland, using the leases submitted by petitioner; or
(B) can petitioner value the timberland and standing timber
as section 2032A(e)(7) property, but not the pastureland, using
the leases submitted by petitioner; or
(C) can petitioner value only the timberland as section
2032A(e)(7) property, and not the standing timber and
pastureland, using the leases submitted by petitioner?
The second question requires a determination of whether the
leases submitted by petitioner established a rental value: (1)
For timberland, standing timber, and pastureland, (2) for
timberland and standing timber only, or (3) for timberland only.
The parties have stipulated the following values for the
preceding issues (values include both elected property specially
valued under section 2032A and nonelected property at fair market
value):
(1) If the Court finds that petitioner must use section
2032A(e)(8), the parties agree that the values of decedent’s real
estate are as follows:
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Last modified: May 25, 2011