Available Documents
Public Policy
The Peconic Land Trust is committed to keeping landowners, donors and our government partners up to date on the latest issues concerning land conservation legislation. Please check back often for updates.
Latest News
Trust Hosts NYS Assembly Delegation for East End Farm Forum
On Thursday, November 1, 2007, the Peconic Land Trust was the setting for a round table discussion with members of an Assembly Task Force seeking to better understand the needs of Long Island farmers.
Organized by local State Assemblyman Fred W. Thiele, Jr., (Sag Harbor) attendees included Task Force Chair Assemblyman Cliff Crouch of Guilford (in upstate NY), Assemblyman Thiele, Assemblyman Michael Fitzpatrick (Smithtown), Assemblyman Andrew Raia (East Northport), Trust President John v.H. Halsey, Executive Director of Long Island Farm Bureau Joe Gergela, Southampton Town Supervisor Patrick "Skip" Heaney, Sag Harbor Mayor Greg Ferraris, and South Fork farmers Jim Pike and John White.
Highlighting the day was a 2-hour tour with winemaker Roman Roth of Wolffer Estate Vineyard , a 150-acre vineyard and equestrian property conserved with the assistance of the Trust in 2001 through a sale of development rights to Suffolk County.
At the Trust offices, John Halsey and Joe Gergela discussed the need for New York State legislation to mirror Federal Estate Tax regulations proposed for the upcoming legislative session. Other issues raised over the course of the forum included New York's labor laws and their impact on workforce housing, funding assistance for deer fencing, changes to Agriculture and Markets Law definitions to enhance marketing of agricultural products, and further support for the agri-tourism industry of Long Island.
With Suffolk County generating more agricultural product sales than any other county in New York State, the needs of Suffolk County's farmers were clearly of utmost concern to these Assembly members. The Trust thanks the Assembly members and local leaders for their interest and support of Long Island's agriculture, and we look forward to continued dialogue.
2007 Referenda Results
County 1/4 Penny: Yes
Southold $4 million Bond: Yes
Brookhaven CPF: No
On Election Day, voters in Suffolk County had the opportunity to further land preservation in multiple ways. Two of the 3 referenda passed with majorities; only one, Brookhaven Town's Community Preservation Fund proposal to establish a 2% real estate transfer tax, was rejected by voters.
Suffolk County 1/4 penny sales tax extension: Extension of this sales tax to 2030 to fund two Suffolk County programs: Drinking Water Protection Program and Farmland Protection Program. The issue passed 56% to 44%.
Southold $4 million bond: Creates a fund to purchase farmland and then sell or lease the land, without its development rights, to bonafide farmers at true agriculture prices. The issue passed 71% to 29%.
Brookhaven CPF: Would have created a 2% real estate transfer tax. The issue failed to pass with 61% of voters voting no.
New Conservation Tax Incentives
We have very exciting news to share! You may be able to benefit from recent State and Federal tax incentives that support voluntary land conservation and will help conserve Long Island’s working farms, natural lands, and heritage.
This information is particularly relevant to anyone who:
- previously donated a conservation easement to the Peconic Land Trust or sold development rights through a bargain sale,
- owns land protected by a conservation easement,
- is considering a future donation of a conservation easement or a bargain sale of development rights, especially in 2007.
Over the past six years, the Peconic Land Trust and our members have worked cooperatively with the Land Trust Alliance and our legislators to lobby for incentives that promote land conservation consistent with our mission and values. We are pleased to provide you with information on two new tax incentive programs that are the by-product of the hard work done by all concerned.
Federal Tax Incentives for Conservation
Under the Pension Protection Act of 2006, property owners were entitled to an income tax deduction for protecting important conservation values as described in the IRS Code. This legislation passed in August of 2006 enhanced conservation tax benefits for donations and bargain sales of conservation easements in 2006 and 2007. The new law raised the deduction a property owner can take for the donation or bargain sale of a conservation easement to 50% of their adjusted gross income, 100% for qualified farmers. Donors could carry forward the unused portion of their contribution for up to an additional 15 years.
These enhanced incentives did not apply to gifts of land in fee, gifts of a donor’s entire interest in a piece of land, or to gifts of an undivided interest in a piece of land. In these instances these gifts were deductible underthe same terms as other charitable donations of capital gain property (up to 30% of adjusted gross income with a 5-year carry over).
This legislation sunset on December 31, 2007. We are hopeful that it will be reenacted as part of the Farm Bill legislations that is currently pending in Congress. For more information, visit the Land Trust Alliance website.
- FAQ on Federal Tax Incentives (PDF)
New York State Conservation Tax Credit
The New York State Conservation Tax Credit – the first of its kind inthe nation – provides an annual rebate of 25% of property taxes paidon perpetually protected land, capped at $5,000 per year. This rebate is available to all owners of qualified easement-restricted land (regardlessof when the easement was donated) and is effective beginning with your 2006 taxes. In some instances, bargain sales of development rights may qualify for this tax credit as well. The Land Trust Alliance New York Program worked with the State Department of Taxation and Financeto finalize the implementation process.
The Peconic Land Trust does not offer legal advice. As always, you should consult with qualified tax and legal professionals as to how these incentives relate to your particular situation.
More information on these and other legislative initiatives, please visit the Land Trust Alliance.
Proposed Federal Tax Legislation
Community Preservation Fund Tax Program Extended to 2030
In November 2006, voters in the five East End towns (East Hampton, Southampton, Riverhead, Southold and Shelter Island) voted for a 10 year extension of the 2% transfer tax (Community Preservation Fund) to the year 2030. The Peconic Land Trust, along with its partner conservation organizations in the community, urged the public to support this referendum, stating: “The ability to partner with the Towns and villages on eastern Long Island who have access to funds through the CPF has made our work that much more effective. However, there is much more that needs to be done, and time is of the essence as real estate values continue to escalate. We need to act now to protect working farms and natural lands for the benefit of all communities.”
It’s important to note, however, that the Peconic Land Trust is NOT the recipient of funds acquired through the 2 % transfer tax. The Peconic Land Trust raises its operating budget through charitable gifts and payment for professionalservices. The 2% real estate transfer fee paid by buyers goes directly to the Town in which the property purchased is located.