Gifts of Land or Conservation Easement

 

Lake Forest Open Lands began with several gifts of land to our organization by its founders. Today, gifts of land are still very much appreciated.

 

Frequently, Lake Forest Open Lands is the recipient of a conservation easement on a tract of land. With an easement, you remain the owner of your property however you agree to place a legally restrictive covenant on the property, protecting it from future development. This easement is binding upon you and all subsequent owners of the property, and can be held and enforced by Lake Forest Open Lands. Oftentimes, easements are accompanied by significant property tax reductions because the land is no longer considered to be developable.

 

For more information or to make a gift of land or an easement, please contact John Sentell, president or call 847.234.3880 x15. 
 

Lake Forest Open Lands Association is a 501(c)(3) organization.

 

 

After a long wait, Congress has just renewed the enhanced tax incentive for conservation easements and IRA Charitable donations which makes preserving our open spaces even more financially attractive. This new tax incentive raises the federal income tax deduction that a landowner can take for donating a conservation easement from 30% of their adjusted gross income in any year to 50%. Moreover, the new law increases the number of years a landowner can take these deductions from 6 to 16 years. This incentive is also retroactive to 2010. While the potential tax savings for preserving a portion of your land is very attractive, it is important to begin the process of soon, as this window of opportunity will end December of 2011.

 

Importantly, the enhanced tax incentives to support conservation also extend to IRA Charitable donations. Click here for more information on the IRA Charitable Rollover and how we can work with you.

 

These tax incentives are intended to encourage the pace of voluntary land conservation and present help to add to the permanent and lasting legacy of open space in our conservation community. Please contact John Sentell, president to learn more.