If you’d like to preserve your land but wish to maintain ownership, a conservation easement may be just the thing for you. A conservation easement is a voluntary agreement that a landowner makes to permanently restrict the type and amount of development that can happen on his/her property. These agreements are tailored to the vision of the landowners and can be made with public agencies or with private land conservation organizations such as The Conservation Foundation. Easements do not require public access and can allow farming activities to continue. Conservation easements are recorded on the deed to the property and are in force no matter who owns the property in the future.
If an easement is donated and meets criteria related to quality and proximity to other natural areas, there can be significant savings in property taxes as well as income taxes related to the charitable donation of the conservation easement. Conservation easements are a great tool for estate planners looking for ways to decrease potential estate taxes that may force family members to sell land they would rather be able to keep. Contact us to see if this would work for you and your land.
For more information and to pursue your land preservation options, please contact our Director of Land Protection, Dan Lobbes. Click here to email him or call 630-428-4500, Ext. 201.