Generous landowners who donate conservation easements to the Hill Country Conservancy are inspired by many things: they love the Hill Country, they feel connected to their land, and they wish to leave a legacy for future generations. This inspiration is central to our work to permanently protect valuable natural resources and the working farms and ranches of Central Texas. But for many donors, donating a conservation easement is a major financial decision, and the federal income tax deduction from donations is an important incentive for conserving their land.
Congress recently renewed a 2006 “expanded” tax incentive that enables family farmers, ranchers, and other landowners to get a significant tax benefit for donating a conservation easement on their land. That incentive had gone by the wayside at the end of 2009, but was recently re-enacted for 2010 and 2011 donations. The legislation allows easement donors to:
- Deduct up to 50% of their adjusted gross income in any year (up from 30%);
- Deduct up to 100% of their adjusted gross income if the majority of that income came from farming, ranching or forestry; and
- Continue to take deductions for as long as 16 years (previously 6 years).
For more information about the expanded tax incentive and other benefits of conservation easements, visit:
http://www.landtrustalliance.org/policy/tax-matters/the-enhanced-easement-incentive
http://www.hillcountryconservancy.org/about/what-we-do
http://www.landtrustalliance.org/conservation/landowners
Comments 1
The Bonnie’s are such an example to us all. Not only do they volenteur diligently in helping our community but they put their land with their mouth is.I so agree with the statement, The decision to go forward with the easement is at the heart of Brownsboro Alliance’s mission, working together with local government and county-wide organizations to protect some of Oldham County’s most valuable assets. Hopefully through all this effort others in Brownsboro will decide it is time to become involved and make a difference.