Conserve Land

Tax Advantages of Land Preservation
State Incentives: A new Massachusetts law has established a state income tax credit for permanent gifts of land or Conservation Restrictions to state agencies, land trusts, or other qualified nonprofits.  The limit on the credit is 50% of the appraised value of the gift, capped at $50,000, and not to exceed the donor’s annual state income tax due (though it may be carried forward for 10 consecutive years). Implementation of this state law will begin in 2011. Conservation Restrictions and other land deals take months to put into place, so interested landowners should act immediately to reap the maximum benefits.  Valley Land Fund is eager to work with area landowners on potential land protection efforts.

Federal Incentives: The enhanced tax deductions that helped so many landowners protect their land expired at the end of 2009.  Fortunately ,majorities of both Democrats and Republicans in the House have co-sponsored legislation to make the enhanced easement incentive permanent! Please visit the Land Trust Alliance at    http://www.landtrustalliance.org/policy/taxincentives/federal/tax-incentives for updates on Federal tax incentives and ways to help ensure this legislation passes. (Note: "Conservation Restrictions" are the same thing as "Conservation Easements.")