What are the tax implications for a landowner placing an agricultural conservation easement on his or her property?
Depending upon each situation, the placement of an agricultural conservation easement on land may provide income, property, and estate tax benefits. In most cases the degree of benefit is influenced by a landowner s willingness and ability to make charitable donations on all or a portion of an easement s value. The Federal Taxpayers Relief Act of 1997 allows beneficiaries to exclude from a taxable estate 40% of the value of land subject to qualifying conservation easements. This is in addition to the reduction in the value of the land resulting from the easement itself. For more information, consult a tax advisor.
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