Outright Donation of Property
– Donation of Property: Donate a lot outright to the conservancy. Deductions vary based on how long you have owned the property.
Bargain Sale of Property
– Bargain Sale: Sell your lot to the conservancy for a negotiated price below market value. You can deduct the difference between the sale price and fair market value on your taxes.
Conservation Easements
– Full Lot Conservation Easement: Establish an easement on your entire lot. The conservancy will control and manage the property, ensuring it remains natural and free from development. Tax benefits may include property tax reductions and deductions on the easement’s appraised value.
– Partial Lot Conservation Easement: Dedicate a portion of your property as a conservation easement while still retaining ownership of the remaining area. The conservancy manages the dedicated portion, allowing you to utilize the remainder as desired.
– Partial Lot Easement with Multiple Owners: If you and a neighbor jointly purchase a lot, you can both dedicate parts of it as conservation easements. Each portion will be managed by the conservancy, preserving the natural state of your designated areas.
At BOCILLA Islands Conservancy, we cherish the opportunity to work with our community in fostering conservation efforts. Your support, whether through donations, property contributions, or volunteering, plays a vital role in protecting our unique ecosystems. Remember to consult a tax professional regarding the specific implications of your contributions. Together, we can make a difference!