For the first “Friday Find” post of 2016 we wanted to share with you information that will help encourage more easement contributions.
This “FIND” may give you a new reason to consider placing a preservation easement on your historic property on island. On December 18, 2015 President Obama signed a new tax bill that includes 22 tax breaks. One of the 22 makes permanent the Federal Conservation Tax Deduction, which allows property owners to deduct all or part of the donated value of a historic preservation easement from their taxable Federal income. This enhanced incentive fixes the number of year’s donors can take a deduction from 6 to 16 years. Also, the maximum deduction one can take has increased from 30% of their Annual Gross Income (AGI) in any year to 50%. This enhancement is a great achievement for land conservationists and those in the historic preservation field, and most importantly those looking to place easements on their property. If you are interested in learning more about preservation easements and the NPT easement program please contact our Executive Director, Michael May for more information.
-Marisa Holden, Events and Marketing Director