Benefits to Land Owners
You determine the terms of the easement. Your easement is structured to fit your goals while ensuring the important resources remain intact and that the property is protected in perpetuity. You continue to farm, harvest timber, hunt, fish and enjoy other compatible land uses. Land protected by a conservation easement can be sold or passed on to heirs.
An easement may provide a landowner generous tax benefits. The easement's value is considered a charitable gift donation and is deducted on your state and federal income tax. Transferable state tax credits are available.
An easement may provide a landowner generous tax benefits. The easement's value is considered a charitable gift donation and is deducted on your state and federal income tax. Transferable state tax credits are available.
Financial Benefits
Interested in learning more about the tax incentives available for conservation easement donors? The policies change year-to-year, but there are several reliable sources for updated information regarding federal, state, and estate tax incentives. To learn about the federal tax incentives, including the enhanced easement tax incentive, visit the Land Trust Alliance FAQ page. For more information on Virginia’s Land Preservation Tax Credit, visit the Virginia Department of Conservation and Recreation site. Click here for estate tax information from the Land Trust Alliance.
- VA Tax forms for Land Conservation Tax Credits: (link to Virginia individual tax credit forms page) See “LPC-1 – Application for a Land Preservation Credit” and associated schedules and instructions, and Schedule CR, “Credit Computation Schedule for Forms 760, 760PY, and 763.”
- IRS Schedule 8283 (.pdf): Federal tax return form for reporting charitable gift in excess of $5,000, used to report gift with appraisal to justify gift’s valuation. To be signed by tax payer, appraiser and receiver of gift (land trust)
