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TAX IMPLICATIONS OF CONSERVATION EASEMENTSExcerpt from the Land Trust Alliance Website "If you own land with important natural or historic resources, donating a voluntary conservation easement (also called conservation agreement) can be one of the smartest ways to conserve the land you love, while maintaining your private property rights and possibly realizing significant federal tax benefits. The incentive: • Raises the deduction a donor can take for donating a conservation easement from 30 percent of his or her income in any year to 50 percent; • Allows qualifying farmers and ranchers to deduct up to 100 percent of their income; and • Extends the carry-forward period for a donor to take tax deductions for a voluntary conservation agreement from 5 to 15 years. This is a powerful tool for allowing modest-income donors to receive greater credit for donating a very valuable conservation easement on property they own. For land trusts, this translates to the possibility of protecting much more land through the use of conservation easements. It is important to note that the incentive only applies to easements donated between 2006 and 2009. The Land Trust Alliance will work to make this change permanent, but as it stands it will expire at the end of 2009." The Land Trust Alliance has a brochure that will help explain the tax benefits of a donated easement. Please click Tax Benefit Brochure for more information. The Land Trust Alliance is working to continue the tax benefits and incentives. Please check their website frequently for the latest information on this topic. Go to www.lta.org/policy/tax-policy.
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__________________________________________________________________________________________________________________________________________________________________________________________________ The Tecumseh
Land Trust of Greene and Clark Counties is a private, not-for-profit
conservation organization. Its purpose is to preserve agricultural land, open
space, and historic structures in voluntary cooperation with landowners and
their heirs, and to educate the public about methods of private land
conservation. When current Projects are complete, we will have preserved over
16,000 acres in our working area with the support of over 500 members.
We are the first land trust in Ohio to achieve accreditation. For more information on just what it means to be accredited, please visit Accreditation — Land Trust Alliance web page. Contact us:
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