New York State also provides a major tax benefit to land owners. The Conservation Easement Tax Credit offers taxpayers whose land is restricted by a conservation easement an annual New York State income tax credit of up to 25% of the school, county, and town real estate taxes paid on the restricted land, up to an annual maximum of $5,000 per taxpayer. This credit is claimed when the landowner files their NY income tax return.
TO READ MORE ABOUT NEW YORK'S CONSERVATION EASEMENT TAX CREDIT CLICK HERE FOR PDF.
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