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Suite 104
Port Angeles, WA 98362
Phone (360) 417-1815
Fax: (360) 457-1089
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 Tax Benefits

Income Tax

Potential federal income tax benefits vary with the particulars of each conservation easement. To qualify as a charitable gift, which may be deductible for federal income tax purposes, donation of development rights through a conservation easement must be granted in perpetuity to a qualified conservation organization --such as North Olympic Land Trust. The value of the gift, determined by a formal appraisal, is the difference between the fair market value of the property before and after donation of the conservation easement. To be deductible, an easement must serve conservation purposes by preserving natural habitat, historic sites, unique scenic landscapes, wildlife corridors or connections to other protected parcels, areas of concern for public education or recreation, or open spaces in the vicinity of intense land development. Congress recently extended, through 2009, a federal tax incentive for conservation easement donations that has helped thousands of landowners conserve their land.

For more information click Using the Expanded Tax Incentive (hyperlinked to News)

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