Working Ranch Magazine - Index

Working Ranch Magazine - magazine - Index

determined to save the property from
development. Cognizant of the property’s
value beyond that of marginal grazing
land, the couple sought a way of
claiming at least part of that value while
preserving its wilderness character.
After much palavering with the
Rocky Mountain Elk Foundation, the
National Wild Turkey Federation and
The Nature Conservancy, those entities
cooperated in the purchase of the property
for the State of South Dakota,
under the auspices of the Department
of Game, Fish and Parks. Most importantly
to the Romeys, the bargain
included establishment of a conservation
easement preventing the property
from ever being developed, creating a
buffer zone between development areas
and the remainder of their operation.
“A stipulation allowed us to continue
using the land for limited grazing.
And if the state ever decides to sell the
land, our family gets the first crack at
buying it back,” says Gary Romey.
And while they received roughly half
as much money as developers had
offered, the sale still generated enough
cash for the Romeys to expand their
business.
“We wanted to buy some better quality
land and we already had a place in
mind when we made the deal,” adds
Romey. “We ended up leasing a different
place that joins ours because the
66 |WORKING RANCH | JANUARY / FEBRUARY 2008
That nasty ol’ Death Tax lurks
around every corner of the
trail. A conservation easement
might be the ticket to
help you turn over the ranch
to the next generation, as
long as it can reduce the
market value of the outfit
while keeping it functional.
Sometimes we tend to forget that for some
people a sunrise like this one is not something
they have a chance to see everyday. The idea
behind a conservation easement is to save a
little of this for generations to come so they
won’t have to go hunt for it.