Overview:

Land conservation in this country has traditionally been carried out using a variety of tools including purchase by government agencies, land being retained by government agencies, and land use regulation. In the mid-1980s, the Congress recognized the need for additional tools to encourage land conservation and created financial incentives for landowners who permanently protect qualifying conservation land for the benefit of the public. In recent years, these incentives have been expanded at both a national and state level to the point that incentives are the most effective land conservation tool available. Incentives do not replace the occasional need to purchase land and to regulate land use, but incentives provide a less expensive and less onerous alternative. 

Conservation Easments: 

Conservation easements are legal agreements between two parties to limit development on a tract of land for a period of time. If the agreement meets three additional conditions, tax incentives may be available.

These conditions are:

  1. The agreement must be between the landowner and a qualified land trusts or government agency.
  2. the land must serve conservation purpose(s).
  3. The agreement must be in perpetuity - and thats a long time!

Incentives:

There are a number of incentives available to a landowner for donating a conservation easement to a land trust or government agency. The most important of these is knowing that your land will be protected in its current state from now on – beyond your lifetime and regardless of who owns the land in the future. Other incentives include keeping the land in the family, continuing existing uses including farming, forestry, hunting, fishing and the enjoyment of the outdoors. There are also financial incentives. Each landowner contemplating a conservation easement should obtain his or her own legal and financial advice. Neither of these two important sources of information and advice should be provided by the partner land trust.  

Federal Incentives:

The federal government offers tax deductions as an incentive for voluntary land conservation. In 2009, these incentives include a deduction of the value of the donation up to 50% of adjusted gross income (farmers get a 100% deduction) with a carry forward period of 15 years. Legislation has been introduced in Congress to extend these incentives beyond 2009.

For more information, go to www.lta.org/policy/tax-policy

State Incentives:

The federal government offers tax deductions as an incentive for voluntary land conservation. In 2009, these incentives include a deduction of the value of the donation up to 50% of adjusted gross income (farmers get a 100% deduction) with a carry-forward period of 15 years. Legislation has been introduced in Congress to extend these incentives beyond 2009. 

For more information on the tax credit program, go to www.glcp.ga.gov/taxcredit 

Local incentives:

A conservation easement may lower the value of the land on which it is placed. This lower value should be reflected in lower property taxes but this is not always guaranteed. A landowner should always consult with a knowledgeable attorney and financial advisors before making decisions.