Protecting the Land that Preserves Your Way of Life
The biggest benefit to you, of course, is that you contribute directly into preserving our open spaces and natural lands, long into the future of New Mexico.
Benefits of conservation easements for landowners:
- Land remains privately owned; ownership rights stay in place
- Landowners can live on the land
- Agricultural traditions and land uses maintained
- Land protected from subdivision
- Tax benefits help keep land intact and in the family
- Land protected beyond their lifetimes
- Landowners can fulfill their vision for the future of their land and waters
- Options for children and grandchildren to farm and ranch preserved
- Ecological and scenic values preserved
- Tax savings and sales proceeds can boost agricultural operations
- Easement agreement remains with the property, even if the land is sold
- Easement terms individually tailored to meet landowners’ needs
Making Use of the Federal Tax Deduction
The monetary value of an easement may be deducted from Federal income taxes as a charitable gift. For donations
made in 2012, an easement donor may deduct the full value of the easement up to 30% of adjusted
gross income (qualified farmers may be able to deduct up to 100% of AGI). Donors may carry this deduction
forward up to 15 years until the value of the charitable gift is spent in tax savings.
Applying for the New Mexico Land Conservation Tax Credit
The New Mexico Land Conservation Incentive Act is a state tax credit program designed to encourage the conservation of
New Mexico’s private open lands. Landowners who donate land or conservation easements on or after January
2008 may receive a tax credit of 50% of the easement’s value, up to $250,000, that can be used as a dollar-for-dollar
write-off of state income taxes. The tax credit is also transferable, allowing sale of the tax credit to a third
party for cash—an attractive option for landowners whose state tax bills are relatively low.
Below you will find the 2012 LCIA Assessment Application Deadlines along with follow-up meeting dates.
February 20, 2012
March 26, 2012
May 21, 2012
July 18, 2012
August 27, 2012
October 17, 2012