Attention: Killingworth Land Owners
Congress just renewed a tax incentive for private landowners who protect their land with a voluntary conservation agreement. The incentive, which had expired at the end of 2009, is now available through December 31, 2011 and is retroactive back to January 1, 2010.
Conservation-minded landowners now have until December 31, 2011 to take advantage of a significant tax deduction for donating a voluntary conservation agreement to permanently protect important natural or historic resources on their land. When landowners donate a conservation easement to The Killingworth Land Conservation Trust, they maintain ownership and management of their land and can sell or pass the land on to their heirs, while foregoing future development rights.
The enhanced incentive applies to a landowner’s federal income tax. It:
•Raises the deduction a donor can take for donating a voluntary conservation agreement from 30% of their income in any year to 50%; •Allows farmers and ranchers to deduct up to 100% of their income; and •Increases the number of years over which a donor can take deductions from 6 to 16 years.
Our whole community wins when thoughtful landowners conserve their land this way, protecting wildlife habitat, clean drinking water, scenic landscapes, recreational spaces, and productive agricultural lands. Conservation agreements have become an important tool nationally for protecting our watersheds, farms and forests, increasing the pace of private land conservation by a third – to over a million acres a year. The Killingworth Land Conservation Trust joins America’s 1,700 land trusts and their two million supporters in thanking Congress for making this important conservation tool available.
It really is a win-win.
President of KLCT