Kent County Conservancy focuses specifically on the conservation of outstanding natural areas, stream corridors, woodlands, working lands, connectors between protected lands, and small sites with unique features, to afford the best protection of the county’s biodiversity and water resources.
LAND PRESERVATION OPTIONS
COnservation Easements
An easement is a legally binding agreement with a qualified conservation organization or public agency containing specific terms of use designed to keep your land in its natural state. The owner would retain ownership of the land and all private property rights except any which the owner specifically prohibits in the easement document. Conservation easement remains with the land in perpetuity. A conservation easement may be given during the owner’s lifetime, by bequest, or by the heirs with nine months from the date of death of the owner.
Land Donation
A gift may be made outright or by bequest to a private nonprofit conservation organization, or to a public agency
Nature Preserve Dedication
Dedication into the state system of nature preserves offers the highest level of protection for lands in Delaware. This dedication of land can be accomplished by the execution of a conservation easement or gift of the natural resource land to the Delaware State Office of Nature Preserves. For more information about this option, contact the Office of Nature Preserves in Dover at (302) 739-3423.
BENEFITS FOR DONORS & HEIRS
Estate Tax Benefits
Easement donors may exclude up to 40% of the already reduced value of eased land from their gross estate for federal estate tax exclusion capped at $500,000. The subsequent reduction in value of the total estate may enable heirs to retain control of land which might otherwise have to be sold to pay the federal estate tax.
Income Tax Deductions
Gifts of land and easements are considered charitable contributions and may enable donors to realize an income tax deduction of up to 50% of adjusted gross income the year the contribution is given. Any remaining amount can be carried forward for an additional five years, or when the amount of the contribution is exhausted.
State Income Tax Credit
Delaware residents who donate undeveloped land or an easement may qualify for an income tax credit based on 40% of appraised value of the gift, with the tax exclusion capped at $50,000. Any unused credit in the year of the gift may be carried over for five more years.
Property Tax Reduction
Landowners may also apply for local property tax reduction on land that is restricted by a conservation easement.
FIND OUT MORE
If you are interested in further exploring your land preservation options with us, please fill out the form below and one of our Board Members will be in touch.