Land conservation has many benefits, not just for the environment, but for the landowner as well. There are a number of ways a private landowner can receive financial advantages by preserving land through the North Florida Land Trust.
Tax benefits – In 2015, Congress made permanent a tax incentive for the donation of conservation easements. The tax incentive allows land donors to take a 50% deduction from their annual income for up to 16 years. Qualifying farmers and ranchers who donate conservation easements can deduct up to 100% of their income for up to 16 years. Placing an easement on your land may also result in a lower property tax bill.
Financial benefits – For specific properties, there is a potential that a local, state, or federal government program may be able to pay for the purchase of your land or conservation easement.
Estate planning – Many property owners have concerns as to how their land will be used after their death. A conservation easement ensures a property will not be developed in the future. It also provides relief from the estate tax.