Protect Your Land
Purchase of Development Rights
What is Purchase of Development Rights?
How is the value of non-farm development rights established?
How does the process work?
We currently partner with local municipalities and landowners who apply for farmland protection grant funding for the New York State Department of Agriculture. This is program is called the Purchase of Development Rights (PDR). If a farm is selected for protection with the NYS farmland protection program it will pay for up to 87.5% of the non-agricultural development rights value. The municipality may contribute funding towards the transaction costs. Other counties provide in-kind services, such as computerized mapping.
NYALT works with the sponsoring municipality and landowners and who have been selected for a NYS farmland protection grant (PDR) to help them with the conservation land planning, related documents, and materials necessary to meet state and federal guidelines for farmland conservation projects. As part of this process, NYALT agrees to uphold the conservation agreement (called a conservation easement) into the future.
Where does funding come from?
Donating a Conservation Easement
By donating a conservation easement, you become a community leader, establishing a gift that keeps giving to future generations. Conserving your land is one of the greatest legacy actions you can take. Good farm and forestland will become ever more important as we work to strengthen our local food supply and conserve our water and natural resources. You can make a real difference with the gift of an agricultural conservation easement. Donating a conservation easement can help families with estate planning and can provide state and federal income tax deductions and state property tax credits.
For more information, please complete the Landowner Information Form and return it to NYALT or contact Amy Olney, Farmland Conservation Program Coordinator at email@example.com or 518-860-6115.
What is involved in donating a conservation easement?
Meet With Staff
Review of Title Documents and Public Records
Draft the Conservation Easement
Prepare Final Documents
Prepare the Baseline
Complete the Project
Apply for State and Federal Income Tax Deductions
Project Time Frame
When you begin the project, NYALT will work with you to estimate what the costs are likely to be incurred to complete the project. Among these costs are: title continuations, survey expenses, baseline report preparation, recording fees and a stewardship contribution. The stewardship contribution is needed to pay for future monitoring and enforcement expenses and for insuring that NYALT continues to have the capacity to assist you and future owners and to uphold its long-‐term responsibility as the holder of the easement.
Note on Costs: If your project moves forward, we will work with you to identify grant funding or other sources of funds for donating a conservation easement.
If landowners donate a conservation easement in full or as a bargain sale and plan to utilize a federal tax deduction, they must get a certified appraisal documenting the value of the conservation easement, within the same tax year of, but no more than 60 days prior to the donation. There may also be estate tax benefits associated with the conservation easement as well.
The New York State Tax Credit gives landowners whose land is restricted by a donated or partially donated conservation easement an annual refund of 25% of the property taxes paid on that land, exclusive of structures and improvements, up to $5,000 per year. Your local municipality will not experience a reduction in tax revenue because the it is a New York State income tax credit.