Donations Yield Tax Advantages

As a nonprofit organization, contributions of money or land to the Oxford Land Trust are tax deductible to the full extent allowed by law. In addition, conservation easements can also generate significant tax savings.

A conservation easement is a unique method of conserving resources on your land, while retaining ownership and receiving an income tax deduction, a reduction in estate taxes, and a reduction in property taxes. This is accomplished by placing a recorded restriction, chosen by the owner, on the property, restricting development for the future. The owner may retain some specific development rights, as long as the conservation purpose is met. Some examples of conservation purposes include the protection of an endangered species, preservation of a scenic vista, enhancement of a greenway, protection of a large tract, or the retention of open space.

A land trust may assist an owner with determining these guidelines, and can be designated as the charitable, nonprofit organization to enforce the conservation purpose.

Perhaps you are a property owner who would like to leave a natural legacy for future generations to enjoy. The Oxford Land Trust is a vehicle through which this can be accomplished. You should consult your tax or legal advisor for advice regarding the donation of money, land, conservation easements or other gifts to the Oxford Land Trust, Inc.

The foregoing information is not intended as legal advice and is informational in nature only.