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There are two primary methods to conserve your land: placing a permanent deed restriction on the property (called a conservation easement ) or by giving the land to NYALT, protected with a conservation easement, to be sold to a farmer or appropriate landowner.
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Sometimes, conservation easements are donated by landowners who wish to protect their property permanently. Donating a conservation easement permits landowners to take advantage of the income tax deduction that is available for the value of the donated development rights
- Purchase of development rights (also known as PDR or purchasing a conservation easement) on farms or forestland is possible, with funding from the Environmental Protection Fund, through the New York State Farmland Protection Program , or sometimes by other private sources.
- Bargain-sale of a conservation easement occurs when a landowner sells a conservation easement at less than its appraised value, thus donating part of the value to the Land Trust. This combines the income-producing aspects of a sale with the tax benefits of a donation.
- Donating your land to NYALT is a great way to reduce estate tax exposure, maximize your federal and state income tax deductions, and greatly enhance NYALT’s ability to increase its farmland protection work. Some landowners may choose to give their land to NYALT. If it meets our conservation criteria, NYALT may then protect the land with an easement. If not, the land may be sold, with all proceeds from the sale of the land going towards farmland protection.
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