| 1. What is a conservation easement? |
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A conservation easement is an interest in real property which is given or sold by the land owner to an organization for the purpose of preserving land from development. A donation of a qualified conservation easement to a qualified organization permits a charitable contribution deduction for the value of the conservation contribution. In other words, if a landowner donates a conservation easement on his property to a land trust, she is able to take a charitable deduction on her income tax return for the difference between the land before the easement and after placement of the easement. |
| 2. If I give a conservation easement to a land trust or other qualified organization, will the public have access to my property? |
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No, not unless the conservation purpose includes the outdoor recreation or education of the general public. Most conservation easements are “open space” easements. “Open space” easements have no public access requirement. An “open space” easement must yield a significant public benefit which is often satisfied by a scenic benefit or furthering a clearly delineated governmental conservation policy. |
| 3. Can a conservation easement be revoked? |
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No. A conservation easement is a perpetual easement that will run with the land forever. The land trust or other conservation organization holding the easement will have the responsibility of monitoring compliance with the easement by future owners of the land. For the person who has a strong conservation ethic, and the means to give up the value of development potential, a donation of conservation easement serves as a lasting legacy for generations to come. |
| 4. Does donation of a conservation easement provide other tax benefits besides an income tax deduction? |
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Yes. The conservation easement will typically reduce the value of the land, often between 40% and 60%. For the landowner facing an estate tax at death, this may provide a vehicle to reduce her assets. The reduction in value may also reduce the assessed value of the land and thus the property tax. |
