 | 
 | |
Donations of Land
 | | Hooper Brook, Greene |
The majority of the land we protect has been donated to the Trust through both outright donations of land and conservation easements.
OUTRIGHT DONATION OF LAND: An outright donation of land may appeal to landowners who wish to see their land conserved, but no longer have a use for the land, have no heirs or wish to reduce their property and estate taxes. All rights to the land are donated to the ALT. The donor may benefit from an income tax deduction for the full appraised value of the land and reduced estate taxes.
DONATION OF A CONSERVATION EASEMENT: A donation of a conservation easement may appeal to landowners who wish to keep their land in the family, but would like to protect the land from further development and benefit from potential reductions on income, estate, and property taxes.
DONATION BY WILL: The landowner can bequeath the donation of a conservation easement to a qualified conservation organization at the time of their death, through a last will and testament, which results in the unrestricted use of land by the owner until death, as well as a possible reduction of estate taxes. On the other hand, the owner continues to have full property tax liability during their life and receives no income tax benefits for the donation.
RESERVED LIFE ESTATE OR REMAINDER INTEREST: Property is donated or sold, in whole or in part, to a qualified conservation organization with a deed provision that reserves the right of the owner (and/or specified persons) to use the land, or a portion of it, until death. The owner may claim an income tax deduction for the value of the donation, estate taxes may be reduced, and property taxes may be levied only on that portion of the land retained for personal use.
|
|
|
|