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Donation of Land or Easements
A Substantial Income Tax Deduction May Be Possible
You may Retain a Life Tenancy For a Gift of Land
Private Ownership Retained
May Provide Significant Tax Benefits
Income and Potential Tax Benefits ˆ
SWT may recommend that a lease or management agreement may achieve a conservation purpose. An example may be to secure a renewable trail agreement when a landowner isn't ready to grant a permanent trail easement.
Landowners sometime believe that deed restrictions or deed covenants ensure conservation of land but only a conservation easement can provide perpetual protection and provide substantial tax benefits.
Real property user tax classifications that reduce taxes owed on forest and farmland are useful to reduce the expense of owning land but do not offer perpetual protection or tax deductions.
A charitable deduction may also be taken for donations of land made to SWT which permit SWT to sell the property to use the proceeds to benefit other conservation priorities. SWT may sell the land subject to a conservation easement.
Other Ways to Gift Land
You may also wish to discuss with your financial adviser the advantages of a charitable remainder unitrust or a gift of land as provided in your will.