Preserving Your Land - Conservation Easements FAQ
Yes! Easements can be sold, either at full value or at some reduced value which is often referred to as a “bargain sale”. For properties with high conservation value, the Land Trust is willing to discuss purchase possibilities. There are many State and Federal programs available to help landowners preserve their property be it farmland, forest or other open space. In most cases, though, government funding will only cover a portion of the purchase cost. The remainder is open for negotiation.
Many easement donors have received charitable donation deductions on their federal income taxes. You should consult your tax advisor concerning the benefits of donating a conservation easement on your land and your eligibility for these benefits. The value of the tax deduction is based on an appraisal by a licensed real estate appraiser and is equal to the value of the unrestricted property minus the value of the property with the easement.
No, donated easements and development rights purchased by the Connecticut Department of Agriculture do not have to allow public access. If grant money from the Department of Environmental Protection is used to purchase your easement, some public access will be required. Whether or not public access is required, volunteers for GLT stewardship inspect the property once annually to ensure that the provisions of the easement are being met.
No, in fact, many easements are specifically designed to encourage active forestry. Major forestry activities would require a forest management plan created by a certified forester.
The primary purpose of a conservation easement is to prevent the development of the land. However, a limited number of reserved rights may be allowed in the easement and might include the reservation of a couple of building lots. If too many reserved rights are included, the IRS might disallow the income tax deduction, so you need to consult your tax advisor on this one.
We would be happy to meet with you. Contact us at (860) 491-LAND or info@goshenlandtrust.org.