IRS Announces Special Use Valuation Interest Rates For Deaths In 2008

The IRS has officially released the 2008 interest rates for special use valuation purposes on federal estate tax returns of decedent’s dying in 2008. The interest rates are to be utilized in the rent capitalization formula pursuant to I.R.C. §2032A(e)(7). The tables below provide the interest rates and the states making up the particular Farm Credit Bank Districts.

REV. RUL. 2008-44 TABLE 1
TABLE OF INTEREST RATES

(Year of Valuation 2008)

Farm Credit District	Rate

AgFirst, FCB	7.56
AgriBank, FCB	6.38
CoBank, ACB	6.11
Texas, FCB	6.47
U.S. AgBank, FCB	6.09

REV. RUL. 2008-44 TABLE 2
TABLE OF FARM CREDIT SYSTEM BANK CHARTERED TERRITORIES

Farm Credit System Bank	Location of Property

AgFirst, FCB	Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, West Virginia.

AgriBank, FCB	Arkansas, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Tennessee, Wisconsin, Wyoming.

CoBank, ACB	Alaska, Connecticut, Idaho, Maine, Massachusetts, Montana, New Hampshire, New Jersey, New York, Oregon, Rhode Island, Vermont, Washington.

Texas, FCB	Alabama, Louisiana, Mississippi, Texas.

U.S. Agbank, FCB	Arizona, California, Colorado, Hawaii, Kansas, New Mexico, Nevada, Oklahoma, Utah.