Conservation Options
The Downeast Coastal Conservancy is dedicated to working with willing landowners to explore the range of conservation options for their land. The following information is intended to help you explore the "toolkit" for land conservation.
There are several techniques available, all of which can be tailored to fit your unique circumstances. Your choice of which technique to pursue depends upon your goals for the property, the natural characteristics of the land, and your financial objectives, including income and estate tax planning.
Donate Your Land
Land donated to Downeast Coastal Conservancy is truly one of the finest legacies a person can leave for future generations. If your land has significant conservation values, and no heir is available to protect your land; or if you own highly appreciated property, or have substantial real estate holdings which may result in high capital gains or estate tax burdens, a donation of land to Downeast Coastal Conservancy may be an attractive alternative.
The donation of any interest in land to a qualified charitable organization, such as Downeast Coastal Conservancy, may provide substantial income, property, or estate tax benefits, as well as avoidance of taxation on capital gains. Because federal regulations may limit a taxpayer's ability to fully utilize a deduction, a landowner should seek professional legal and tax advice when considering conservation options.
Donate a Conservation Easement over your Land
One of the most powerful, effective tools available for the permanent protection of private lands in Washington County is a conservation easement. A conservation easement is a voluntary legal agreement between a landowner and Downeast Coastal Conservancy which restricts the use of a particular property in order to protect its conservation values.
Conservation Easements are used to achieve a variety of conservation purposes, including open space preservation, agricultural preservation, and natural resource protection. The conservation easement is recorded in the form of a Grant Deed and is binding on successive owners of the property in perpetuity. In other words, it is forever.
Flexible tool: A conservation easement is a flexible tool, and is tailored for each specific property based on the common preservation goals of the landowner and the holder of the easement. For example, conservation easements may prohibit development over scenic landscapes; prohibit non-agricultural uses over agricultural land; restrict timber harvests to sustainable levels over forest land; or require that land be kept "forever wild" over natural areas.
Land remains in private ownership: Landowners retain title to the land and continue to occupy and use the lands under the terms of the Conservation Easement. A subsequent owner would also be obligated to use the lands under the terms of the Conservation Easement. A conservation easement is an excellent tool for families who wish to keep their land intact to pass on to the next generation.
Sell Your Land or a Conservation Easement
In order to purchase land or a conservation easement, the Downeast Coastal Conservancy must identify and secure funds from a variety of resources - local and state agencies and private organizations and foundations. A landowner offering a bargain sale (that is, selling the property for a price which is less than fair market value) increases the possibility that funding can be obtained for the transaction. A bargain sale also offers potential income tax benefits to the seller, as the difference between the appraised fair market value and the sale price is considered a tax-deductible charitable contribution.
For More Information, please contact Tom Boutureira at (207) 255-4500 to discuss the options for conserving your land.
