The NC conservation tax credit has been repealed in the new North Carolina tax reform law. If you ever thought about conserving your land…the time is now. These incentives make it easier for some landowners to conserve their property. This means that land owners have until December 31to benefit from the up to $250K for individuals, $500k for corporations or jointly-filing couples in state tax credit for donated easements or fee simple land donations.
Also, the current enhanced federal income tax deduction for conservation easement donations is scheduled to expire Dec. 31, 2013.
Landowners who place a conservation easement on their land will preserve it through perpetuity and benefit from tax incentives for limiting certain development rights. Both these laws have specific requirements and conditions in order for landowners to qualify.
If you are interesting in exploring conservation options and learning more about these incentives, please contact Land Acquisition Director George Kimberly at 704.342.3330 (ext. 212) or email@example.com for more information.