Conserving Your Land
There are two methods by which donors can protect land
A Conservation Agreement allows a landowner to agree (and compel future landowners to agree) to restrict development like severances, additional houses, gravel extraction, excessive tree cutting and even the use of yard lights which obliterate the stars. Every landowner creates a personalized list of restrictions and receive an income tax receipt for about half the value of the land (not the buildings). It will then be EBC’s responsibility to ensure future owners follow your rules.
Severances and Donated Land
Landowners can place their land into a nature reserve by donating or selling the property at a reduced rate. EBC is able to sever off the wetland or forest while leaving the house and other lands with the owner. Any land donated receives a tax receipt while the owner saves capital gain taxes and real estate fees. Usually the benefit ranges from 60% to 97% of the value of a sale.
Landowners can use these tools and apply them in a way that best suits their situation
You have the option to donate your land today but live on it until you choose to leave. This allows you to arrange the donation yourself, saving your executor the paper work and you get the receipt today, when you can best use it.
Donate a Conservation Agreement
Landowners choose to donate a conservation agreement today and leave actual title to the land to the conservancy in their will.
Some landowners have looked at the cost of “estate” taxes or capital gain taxes due upon the death of the last survivor and calculated that the best way to transfer title to their children is to donate an agreement today, use the tax saving to pay those taxes and place the land into a family trust to avoid future taxes on transfer. Many tax advisors can suggest ways where such a gift to a charity benefits both current owners and their children.