Originally published August 28 2005
Conservation easements are gaining popularity
by Mike Adams, the Health Ranger, NaturalNews Editor
More and more property owners are donating their land to trusts to preserve the property and keep it from ever being developed.
But as an eight-year weekend resident of Bridgewater, he also knows that no amount of money could ever persuade him to develop his beloved bucolic land, which he calls paradise.
They rejected developers' offers and made sure the developers never come knocking again, by donating a conservation easement to the local land trust, preserving the property forever.
Mr. Presby said of the couple's decision to donate the easement on 50 of the 63 acres.
A conservation easement is a conveyance of legal interest in land, whereby a property owner gives or sells the development rights to a preservation group, like a local, state or national land trust.
The landowner retains full ownership, but is bound to never develop it.
And the easement applies to future owners of the land, ensuring perpetual protection.
When an easement is donated to a charitable organization, a tax deduction can be claimed that is equal to the value of the development rights that the landowner is giving up.
For example, if owners are preserving four pristine acres, they receive an appraisal establishing the "before" value of the land at, say, $660,000 and the "after" value at $300,000.
This can lead to significant savings in income taxes, real estate taxes and inheritance taxes.
"God knows what can happen to any one of us at any time," said Bridgewater's first selectman, William Stuart, who is putting an easement on his own 12-acre parcel.
"People need to be aware that this isn't something they can tackle on their own," said Mr. McGowan, advising that they enlist the services of an environmental lawyer, a surveyor, an appraiser and a naturalist to fully evaluate the parcel and correctly assess its value.
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