VCCE Assists Donors at the Earliest Stages of the Easement Process
We provide guidance to landowners on easement terms, professional resources (attorneys, appraisers, and accountants), land trust negotiation and acceptance, and ultimately tax credit registration and sale. Basically, we hold your hand through the entire process! We do not collect a fee until you receive money from the tax credit sale.
Landowners considering a donation should discuss the matter with a land trust representative, appraiser, and broker as early as possible. Easement donations can take a minimum of 90 days, but usually take longer. Landowners who donate a conservation easement are giving up some value of their property. A certified appraiser will assess the change in value of the property given the restrictions of the easement. There are specialists in the field of land conservation. VCCE can provide guidance to a landowner in the early stages of a donation.
The state income tax credit is in addition to the federal income tax benefits that an easement donor receives. When this tax credit is combined with the existing federal and state income tax deductions and estate tax benefits, easement donors may realize substantial tax savings. In addition, some counties reduce property tax rates for easement land through land use taxation rules.
Donors discount their tax credits to sell them. Donors also provide indemnification in the event of an IRS or Virginia Department of Taxation challenge or adjustment.