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  • Green River Valley Land Trustt - Services
    Stewardship Stewardship Explained Donate to Legacy Fund Corridor Conservation Campaign Map Partners Public Education Press Links CONTACT SERVICES The Green River Valley Land Trust works to conserve Wyoming s natural and agricultural resources Our services include Facilitating the donation of conservation easements Purchasing conservation easements Working with potential buyers sellers real estate professionals on conserving properties listed for sale through our Conservation Buyer Program Stewarding conserved properties Providing cost free

    Original URL path: http://www.grvlandtrust.org/services.shtml (2016-02-14)
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  • Green River Valley Land Trust - Services Facilitate CE donations
    from landowners who may not have the income against which to take a tax deduction If a landowner donates an easement he or she can deduct the easement s value as a charitable gift on their federal income and estate taxes If a landowner sells an easement he or she can use the sale proceeds to improve their operation retire debt or invest for the future Our organization works with

    Original URL path: http://www.grvlandtrust.org/services-facilitate.shtml (2016-02-14)
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  • Green River Valley Land Trust- Services Facilitate CE donations - CE explained
    conservation easement cannot prevent condemnation One quick note Like the properties they conserve each conservation easement is unique Our organization works with every landowner to ensure that the conservation easement meets the landowner s needs and goals and conserves the property s distinctive character How Does Your Organization Get Conservation Easements We acquire conservation easements in one of two ways We either accept them as charitable donations or purchase them from landowners who may not have the income against which to take a tax deduction If a landowner donates an easement he or she can deduct the easement s value as a charitable gift on their federal income and estate taxes If a landowner sells an easement he or she can use the sale proceeds to improve their operation retire debt or invest for the future Our organization works with every landowner to ensure that the conservation easement meets that landowner s needs and goals We raise money to purchase easements from a variety of sources Our last easement purchase involved everything from 5 and 10 gifts from community members to six figure gifts from donors like the Wyoming Wildlife and Natural Resource Trust We ve worked with natural gas mitigation funds federal funds like the NRCS Farm and Ranchland Protection Program and charitable foundations like Doris Duke Easement sellers typically play a role as well by selling their easements to us at a discount through a bargain sale In a very real way every gift matters How Do You Know What the Easement s Worth As a general rule the value of a conservation easement equals the difference between the fair market value of the land without the easement in place and the fair market value of the land as restricted by the easement To carry the bundle of sticks illustration through each stick in the bundle of property rights has a value Together these values make up the property s overall worth By limiting certain uses of the property conservation easements essentially remove sticks from the bundle thereby reducing the property s overall value The value of the removed sticks equals the value of the conservation easement Qualified appraisers determine the value of the conservation easement Our organization can provide contact information for appraisers to interested landowners What are the Potential Tax Benefits for Donating a Conservation Easement Conservation easements offer a variety of federal income and estate tax benefits when the estate tax is in effect Federal tax law treats conservation easement donations as charitable gifts and allows donors to deduct the easement s value on their federal income tax returns subject to certain percentage limitations The restrictions imposed by a conservation easement also reduce the value of the property in the donor s estate resulting in estate tax savings In addition the executor of a decedent s estate can elect to exclude an additional 40 percent of the value of the land subject to a qualified conservation easement up to a maximum of 500 000 These

    Original URL path: http://www.grvlandtrust.org/services-facilitate-CE-explained.shtml (2016-02-14)
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  • Green River Valley Land Trust - Services Facilitate CE donations - Steps to Donating
    Preparing the Conservation Easement and Supporting Documents The GRVLT prepares an initial draft of the conservation easement for the landowner and their attorney or other advisors to review The GRVLT staff then work with the landowner and their advisors to create a mutually acceptable easement document Though the GRVLT works diligently to see that every donated easement meets the IRS requirements for deductibility please recognize that we cannot assure the deductibility of a particular donation Landowners intending to claim a federal tax deduction for their easement donation including donations through qualified bargain sales bear legal responsibility for ensuring that the donation complies with Internal Revenue Code 170 h the accompanying Treasury Regulations and or any other federal or state requirements GRVLT works diligently to see that every donated easement meets these requirements but cannot assure the deductibility value or financial benefits of a particular donation Four documents typically support the conservation easement A title report ensures that the conservation easement will meet the IRS requirements for deductibility and address any issues that could undermine the property s natural values For example the report could reveal mortgages liens or access easements on the property requiring subordination before the easement is signed A surface mineral report likewise ensures that the conservation easement will meet the IRS requirements for deductibility and address any issues that could undermine the property s natural values The IRS generally prohibits deductions for easements that allow surface mining by any method Since this requirement can pose difficulties in split estate states like Wyoming the IRS allows deductions for easements on split estate properties if the probability of surface mining is so remote as to be negligible Easement donors typically obtain a surface mineral report from a qualified geologist to meet this remoteness test An independent appraisal determines the easement s value If landowners wish to claim a tax deduction for donating the easement they must engage a qualified appraiser to prepare a qualified appraisal that meets the requirements of the Internal Revenue Code A resource inventory documents the condition of the easement property at the time of the donation The inventory describes the natural and man made features of the easement property and includes maps and photos Landowners can engage a resource consultant to prepare the inventory or request that the GRVLT prepare it in house 4 Finalizing and Recording the Easement When the landowner and the GRVLT are comfortable with the conservation easement each signs before a notary public The signings need not occur simultaneously and signatures can be exchanged through the mail or delivery service After the landowner and the GRVLT have signed the conservation easement the GRVLT records the document with the appropriate County clerk The GRVLT keeps the original document in its safe deposit box and provides a copy to the landowner for their records 5 Claiming the Tax Benefits for the Easement Donation Once the easement is recorded landowners can claim a deduction for the easement s value on their federal tax returns

    Original URL path: http://www.grvlandtrust.org/services-facilitate-steps-donating.shtml (2016-02-14)
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  • Green River Valley Land Trust - Services Facilitate CE donations - Tax Incentives
    donating a conservation easement from 30 percent of his or her income in any year to 50 percent Allows qualifying farmers and ranchers to deduct up to 100 percent of their income and Extends the carry forward period for a donor to take tax deductions for a voluntary conservation agreement from 5 to 15 years This is a powerful tool for allowing modest income donors to receive greater credit for donating a very valuable conservation easement on property they own For land trusts this translates to the possibility of protecting much more land through the use of conservation easements It is important to note that the incentive only applies to easements donated between 2006 and 2009 GRVLT will work with the Land Trust Alliance to make this change permanent but as it stands it will expire at the end of 2009 How does the Expanded Tax Incentive work 1 Can you give me an example of the difference the new change makes Under the previous rules a landowner earning 50 000 a year who donated a 1 million conservation easement could take a 15 000 deduction for the year of the donation and for an additional 5 years a total of 90 000 in tax deductions The new rules allow that landowner to deduct 25 000 for the year of the donation and then for an additional 15 years That s a total of 400 000 in deductions If the landowner qualifies as a farmer or rancher he could take a maximum of 800 000 in deductions for his million dollar gift 2 Can anyone deduct more than the value of his or her gift One can never deduct more than the fair market value of the gift This change simply allows landowners who previously could not deduct the full value of their gift to deduct more of that value 3 Who qualifies as a farmer or rancher The new law defines a farmer or rancher as someone who receives more than 50 percent of his or her gross income from the trade or business of farming The law references an estate tax provision Internal Revenue Code IRC 2032A e 5 to define activities that count as farming Specifically those activities include Cultivating the soil or raising or harvesting any agricultural or horticultural commodity including the raising shearing feeding caring for training and management of animals on a farm Handling drying packing grading or storing on a farm any agricultural or horticultural commodity in its unmanufactured state but only if the owner tenant or operator of the farm regularly produces more than one half of the commodity so treated and The planting cultivating caring for or cutting of trees or the preparation other than milling of trees for market The qualified farmer or rancher provision also applies to farmers who are organized as C corporations For an easement to qualify for the special treatment it must contain a restriction requiring that the land remain available for agriculture IRS guidance on

    Original URL path: http://www.grvlandtrust.org/services-facilitate-tax-incentives.shtml (2016-02-14)
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  • Green River Valley Land Trust- Services Facilitate CE donations - Request More Information
    Reasons Purchase Conservation Easements Conservation Easements Explained Steps to Selling Request More Info Completed Projects Conservation Buyer Program Submit a Listing Property Map Stewardship Stewardship Explained Donate to Legacy Fund Corridor Conservation Campaign Map Partners Public Education Press Links CONTACT SERVICES Facilitate Conservation Easement Donations Request More Information Name First Last Email Message Image Verification Please enter the text from the image Refresh Image What s This View the 2014

    Original URL path: http://www.grvlandtrust.org/services-facilitate-more-information.shtml (2016-02-14)
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  • Green River Valley Land Trust - Services Facilitate CE donations - Completed Projects
    Completed Projects Conservation Buyer Program Submit a Listing Property Map Stewardship Stewardship Explained Donate to Legacy Fund Corridor Conservation Campaign Map Partners Public Education Press Links CONTACT SERVICES Facilitate Conservation Easement Donations Completed Projects With nearly 30 000 acres conserved the Wyoming Land Trust WLT has worked with about 50 families on a a wide variety of completed donated and purchased easement projects To view a map and read about

    Original URL path: http://www.grvlandtrust.org/services-facilitate-completed-projects.shtml (2016-02-14)
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  • Green River Valley Land Trust - Facilitate Conservation Easement Donations - Top 10 Reasons
    leave a legacy you can be proud of 3 You love Wyoming and the idea of Forever West 4 You want to keep more of your hard earned money instead of sending it to Washington D C 5 You want to free up some of the value of your land without selling it 6 You understand trends in real estate market and want to maximize the value of your gift

    Original URL path: http://www.grvlandtrust.org/services-top10.shtml (2016-02-14)
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