Allanach-Wolf Woodlands in Windham, CT
Photo Courtesy of Fran Funk
If you own land that you love and want to protect it from development forever, please let us help you. We’ll advise you on the best way to securely protect land of conservation, historic, scenic, or other open space value while maximizing your tax advantages.
There are two primary tools for permanent land protection:
- You can grant a Conservation Easement (Conservation Restriction). This leaves the land in private ownership and can result in an income tax reduction and reduced property taxes. A Conservation Restriction is a legal agreement between a landowner and a land trust that permanently limits specific uses of the land in order to protect its conservation values. It allows you to own and continue to use your land and to sell it or pass it on to heirs– but always with the agreed land restrictions in place.
- You can make a Land Donation. This can result in a substantial income tax deduction and can even be structured in a way that allows you to continue to live on the land or to receive a life income. There are several ways to structure a land donation: by direct gift, through your will, a Bargain Sale (combines income-producing benefit of sale with tax benefits), and other options.
Be sure to consult your accountant and an attorney who is familiar with charitable land donations before making a final decision. Generations from now will thank you for your generosity!