Conservation Easement Deduction

Conservation Easement Deduction

A Conservation Easement Deduction is a tax benefit that allows property owners to receive a charitable contribution deduction for donating a conservation easement to a qualified organization. This easement restricts the development and use of the property to protect its conservation values, such as natural resources, wildlife habitats, or historical significance.

For example, if a landowner donates a conservation easement on their property to a land trust, they may be eligible to deduct the fair market value of the easement from their taxable income, subject to certain limitations and requirements set by the Internal Revenue Service (IRS). This deduction encourages landowners to preserve their properties in a way that benefits the environment and public interest.