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Conservation Gets Closer to a Level Playing Fieldby Lois B. Robbins A little more than a year ago, the Joint Committee on Taxation proposed ending tax incentives for conservation donations, an action that would have substantially eroded conservation efforts all across America. Today, in a surprising reversal, we are celebrating a victory for conservation, with the approval by U.S. Senate and House of Representatives of a significant expansion of the federal tax incentive for conservation easement donations. The new law raises the deduction a landowner can take for donating a conservation easement from 30% of their Adjusted Gross Income (AGI) in any year to 50%. It allows qualifying farmers and ranchers to deduct up to 100% of their AGI; and Increases the number of years over which a donor can take those deductions from 5 years to 15 years. The bill only applies to easements donated in 2006 and 2007, but there is hope of this change becoming permanent. Many property owners will now want to take a second look at this important opportunity to cut their taxes while helping the environment. This refreshing news, thanks in no small part to the efforts of the Heart of the Lakes Center for Conservation Policy and the Land Trust Alliance, is a shot in the arm for conservation. Until now, landowners and their heirs have often been forced to sell family farms and other properties just to pay off their inheritance tax bill to Uncle Sam!. The new incentives will allow moderate-income landowners to conserve their properties and in many cases get relief from their current income tax bill also. The new incentives will help land trusts like the North Oakland Headwaters Land Conservancy to make a convincing case to property owners, showing them how placing their land in a conservation easement can be to their advantage. Without these incentives, the cards were stacked in favor of developers who tempt owners of large tracts to sell their property instead of conserving it. Today, a better balance has been struck between development and conservation. To learn more, go to http://www.lta.org/ or http://www.heartofthelakes.org/ or attend NOHLC’s free Annual Meeting on Saturday, October 7th 2006, 9:30 AM, at the Springfield Township Civic Center, where Erin Heskett, the Land Trust Alliance’s Midwest Director, will be the featured speaker. Mr. Heskett’s talk will emphasize the use of conservation easements and tax incentives which appeal to local landowners, while sharing his experiences building and developing resource conservation projects with local communities. A tax attorney, an Estate Planner, and a real estate attorney will be on hand to answer questions.
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