Land trusts are distinguished by their direct involvement in land transactions
or management.
This involvement often takes the form of a donation to the land trust of a
conservation easement (a permanent, binding agreement that restricts the use
of a parcel of land to protect its natural resources). Land trusts can
also purchase or accept donations of land, or manage land owned by others.
They also advise landowners on how to preserve their land. Land trusts may
focus their efforts in a community, in a region, or on a particular type of
resource. The Palouse Land Trust focuses its efforts in Latah County,
Idaho, Whitman County, Washington, and adjacent counties.
Land Trusts have many advantages as a vehicle for protecting land.
Their nonprofit status brings them a variety of tax benefits.
Donations to land trusts may qualify donors for income, estate, or gift tax savings. For example, when
you own land, you also "own" many rights associated with it, such
as the right to harvest timber, build structures, and so on. When you
donate a conservation easement to a land trust, you permanently give up some
of those rights. For example, you might give up the right to build additional
residences, while retaining the right to grow crops. Future owners are
bound by the easement's terms. If you donate a conservation easement
that meets federal tax code requirements, the value of the easement can be
treated as a charitable gift and deducted from your income tax.
Another advantage of land trusts is that, as private organizations, they can
be more flexible and creative and can generally act more quickly than government
agencies, since they are not as restrained by politics and procedures.
Land trust representatives can negotiate with landowners confidentially, and
quickly.
A land trust assumes the responsibility and legal right to enforce an easement.
If a future owner or someone else violates the easement - perhaps by erecting
a building which the easement does not allow - the land trust will work to
have the violation corrected. As a result, the land trust usually asks
for a donation from the easement donor to offset the cost of future stewardship
expenses.
Conservation easements have become an important mechanism to tailor conservation
to the desires of the landowner. Over 4,000 parcels protecting more
than 1.6 million acres are established across the U.S. The nation's
1,100 local and regional land trusts hold about one half of this total.
The Palouse Land Trust is pleased to be part of this effort.
What is a conservation easement?
A conservation easement is a voluntary agreement a willing landowner makes to permanently restrict the type and amount of development that may take place on his or her property in the future. Landowners grant conservation easements to protect their land from inappropriate development while retaining the rights of private ownership. The conservation easement does not necessarily exclude all development, but may restrict any development that would be harmful to the public benefits the easement seeks to protect.
The landowner continues to own the property; he or she may sell it, live on it, use it, or leave it to heirs, but the agreed-upon restrictions remain with the land forever. The Land Trust accepts the responsibility for the regulation of the easement agreement, however, the property remains in the owner's hands and on the county property tax roles. Granting of a conservation easement does not mean that the landowner must grant public access to his or her property.
Conservation easements can result in income tax and estate tax benefits, if the land qualifies under IRS criteria. For example, the IRS will consider land that is in active agricultural use and meets local governmental land-use policies in support of agriculture. The IRS also considers tax benefits for easement donations that conserve scenic open space, wildlife habitat, and land that provides public access for recreation or education, and/or historic site preservation. While the tax benefits are helpful, many people have found the greatest satisfaction in working with Land Trusts is the assurance that the land they cherish will always be protected.
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