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Tax Benefits

If you own land with important natural or historic resources, donating a conservation easement can be one of the smartest ways to conserve the land you love and protect Tug Hill’s natural heritage, while maintaining your private property rights and possibly realizing significant federal and state tax benefits.

Federal tax benefits of conservation easements from Land Trust Alliance

The federal incentive allows a conservation easement donor to deduct the value of the easement, as determined by a professional, up to 50% of their adjusted gross income in any year, and donors to take deductions for their contribution over as many as 16 years.

For farmers, adjusted gross income in any year can be deducted up to 100% for as many as 16 years.

Review and download federal tax benefit info

Land Trust Alliance Conservation Easement Tax Incentives (PDF)

NYS Conservation Easement Tax Credit

Landowners that donate an easement are also eligible for an annual NYS Income Tax credit that is equal to 25% of the property taxes they pay on the land covered by the easement up to $5,000 a year. This is a refundable credit, so if no income tax is owed, the landowner will receive a check for that amount. This benefit passes on to subsequent owners, providing an incentive for owning conserved land.

Review and download NYS Income tax credit info

By discussing your cherished property with you, we can assess the conservation opportunities that best fit you and your property’s resources, your financial or charitable objectives, and your vision for the future of your land.

Please call our Associate Director, JJ Schell (315) 779-8240 to learn more about how to conserve your land, or land in your community, and be a part of keeping the Tug Hill region special for future generations.


Frequently Asked Questions about the NYS Conservation Easement Tax Credit (PDF)

Forms and instructions to file for this NYS credit:

Individual Form IT-242

Corporation Form CT-242

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