Gift of Conservation Easement
There are several advantages to the donor who makes a gift of a conservation easement:
- A landowner retains ownership of the land and may continue to live on it, sell it, or pass it to heirs,
- An easement can be written to meet the needs of the landowner, while protecting the property’s resources,
- The donation is a tax-deductible gift, provided that the easement is perpetual and is donated for “conservation purposes,”
- An easement can lower estate taxes, sometimes enabling heirs to keep the land in their family, and
- An easement may lower property taxes since the assessed value of the land may be decreased. Peconic Land Trust encourages all donors to consult with an attorney or tax professional.
Gift of Land
Under special circumstances, a landowner may want to make an outright donation of land to Peconic Land Trust. Communities across the country are enjoying nature preserves, recreation areas, and other open space because of the foresight and generosity of landowners who have made such gifts. There are two significant advantages to the landowner:
- The gift may provide a substantial income tax deduction based on the fair market value of the land as determined by a qualified appraisal, and
- The capital gains tax is eliminated. Peconic Land Trust encourages all donors to consult with an attorney or tax professional.
For more information on making a conservation gift, please contact Melanie Cirillo, Director of Conservation Programs.