Tax Incentives for Farmland Preservation

In 2006, Congress passed a law to enhance the tax benefits of protecting your farm by voluntarily donating all or a portion of the value of a conservation agreement. If you own farmland with important natural or historic resources, voluntarily donating or selling a conservation agreement can be one of the smartest ways to conserve the land, while maintaining your private property rights and possibly realizing significant federal tax benefits. Congress has renewed the enhanced tax incentive for conservation easements! As soon as President Obama signs H.R. 4853, the incentive will be in effect through December 31, 2011 and be retroactive to January 1, 2010. For more information about the tax incentive please visit the Land Trust Alliance’s page on Tax Policy