Generous landowners who donate conservation easements to the North Salem Open Land Foundation are inspired by many things: they love the bucolic character of North Salem, they feel connected to their land, and they wish to leave a legacy for future generations. This inspiration is at the heart of our work to permanently protect valuable natural resources. But for almost all of our donors, donating a conservation easement is a major financial decision, and the federal income tax deduction that comes with a donation helps make easements possible for landowners in our community.

Congress passed a new law in 2006, extended until December 31, 2009, that enhances the tax benefits of protecting private land for many landowners. The legislation improves the tax incentive for conservation easements by allowing conservation easement donors to:

• Deduct up to 50% of their adjusted gross income in any year (up from 30%)
• Deduct up to 100% of their adjusted gross income if the majority of that income came from farming, ranching or forestry
• Continue to take deductions for as long as 15 years (up from 5 years) after the initial deduction

This new law applies to all easements donated since January 1, 2006 through the end of 2009, unless the law is extended or made permanent. In the event that it will expire this year, take advantage of the tax benefits of conservation while you can.

Each day we are touched by the generous and inspired landowners who work with us. The new law will make it easier for others in our community to build on their love of the land and permanently protect North Salem.

To learn more about these new developments, please contact us at info@nsolf.org.