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Show VALUE FORUM realizing the worth of your possessions n$ Valuing Your Trees And Shrubs By Dexter D. MacBride, ASA Executive Vice President AmericanSociety of Appraisers Your trees, shrubs and other landscape plants are a valuable investment one that grows contributing to the value of your property. As a homeowner, if these items are damaged or destroyed des-troyed through a casualty, you may be eligible to collect a casualty loss from an insurance in-surance company, or deduct the loss from your federal income tax. Generally, the damage must have been caused by an identifiable event of sudden, unexpected or unusual nature. For the purposes of tax claims this mightinclude mishaps from ice storms, lightning or floods, accidents such as a car running into a tree, etc. Most insurance policies, however, are more restrictive and contain provisions delineating delin-eating exactly the kinds of losses they will cover. In other words, if your trees or landscape plants suffer a casualty, there may be avenues open to you for the recovery of their financial worth, such as: Insurance Coverage, Income Tax Deduction Deduc-tion or Civil Damage Claim. There are steps that you can take for recovery if you sustain such a loss. The information is contained in a free pamphlet, "The Tree Casualty Puzzle." Write: The American Society of Appraisers, Dulles Int'l. Airport, P.O. Box 17265, Washington, D.C. 20041. |