What are the tax benefits of donating a conservation…
Because LPOSC is a nonprofit, charitable organization, there are a variety of tax benefits to donating a conservation easement to the conservancy. Donations of land, conservation easements, or money may qualify you for income or gift savings. The two main federal benefits associated with a conservation easement are possible reductions in income tax and estate tax liability. An independent appraisal of the value of the conservation easement, completed by a qualified appraiser, determines the amount of possible tax benefits. The amount and type of actual benefit depends on different factors, including the value, your income level, and the total amount of your estate. You should consult an attorney and/or financial advisor to fully understand the tax implications of such a donation.