A record amount of land is passing from one generation to another. New, expanded tax incentives for private conservation have just been passed into law. More and more people are asking themselves, “Should I protect my land and, if so, how?” Many are concerned they don’t know the right questions to ask or who to ask.

At the Washtenaw Land Trust’s October workshop entitled “Is Protecting Your Land Right for You? Ask The Experts,” landowners learned the answers to many of their land protection questions. The expert panel on hand included lawyers, appraisers, tax accountants and estate planners.

Some new, limited-time federal tax incentives make this a great time to protect land through donated conservation agreements. Among the incentives:

• The deduction most landowners can take is raised from 30% of their income in any year to 50 %;
• Qualifying farmers are allowed to deduct up to 100% of their income; and
• The carry-forward period for a donor to take tax deductions is extended from 5 to 15 years.

These significant incentives only apply for conservation agreements donated in 2006 and 2007. So for those of you who have thought about protecting your land, now is the time.

For landowners, your local land trust can help you learn more about conserving your land. Contact them soon, and you may be able to take advantage of the brand-new incentives.

For others, your local land trust has a busy year ahead with these limited-time incentives—it’s an exciting time to get involved and make a difference!  n

The Washtenaw Land Trust protects natural areas and farmland, here where you live. The Land Trust is a non-profit organization serving Washtenaw, Jackson, and Ingham counties. It has worked with landowners to protect more than 2,400 acres of land through private, voluntary land conservation. For more information visit www.washtenawlandtrust.org or call 734-302-LAND (5263).