Landowners Respond to Tax-Law Incentives
February 8, 2007 | Read Time: 1 minute
People who own vast expanses of land deemed important for conservation are taking advantage of a new provision in the tax code that gives owners a financial incentive to place protections on their property to prohibit future development, reports The Wall Street Journal.
Several months after the provision was approved in Congress, conservation groups are seeing an uptick in the number of landowners who want to protect their properties with easements, the Journal reports. Further, a new Senate bill would make the generous tax breaks permanent, a step President Bush supports in his proposed budget.
Read The Chronicle of Philanthropy’s recent cover story on this issue, as well as its analysis of the president’s budget.
(Paid subscriptions are required to view both land-conservation articles. The article on the budget analysis is free.)
