Conservation easement

[elisabeth-vines]

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?

[RichardG · Accepted solution]

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.