Conservation easement

Forum|Forum|7 years ago
June 1, 2019
1 reply
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We purchased property that had a conservation easement on it and we told that we should get some kind of a tax break on the land simply because of the restricted use. Is this true? What do I do to get a tax break?

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As for federal taxes, the property owner who granted the conservation easement likely received a charitable income tax deduction. But there is no federal deduction for subsequent owners.

It's possible there is a state property tax or income tax deduction. Please contact your state tax agency for that information.

Anonymous

Answer

As for federal taxes, the property owner who granted the conservation easement likely received a charitable income tax deduction. But there is no federal deduction for subsequent owners.

It's possible there is a state property tax or income tax deduction. Please contact your state tax agency for that information.