Whidbey Camano Land Trust Contact:
Patricia Powell, Executive Director, (360) 222-3310

Greenbank, WA - The Whidbey Camano Land Trust announced today that the pensions reform bill, recently signed into law by President Bush, will provide substantial new land conservation tax benefits for landowners, especially farmers and ranchers.

“This bill is a victory for both landowners and land conservation,” said Land Trust Executive Director Patricia Powell. “Over the next two years we will have an amazing opportunity to reach out to family farmers and ranchers who weren’t able to consider donating a conservation easement before this bill became law.”

Pensions bill H. R. 4, signed into law in August, contains an expanded tax incentive that will enable many more Americans to protect the land they love through voluntary conservation agreements with local land trusts. Voluntary conservation agreements, also known as conservation easements, are an important tool for land conservation. They have been use throughout Island County. The Whidbey Camano Land Trust holds and monitors eight conservation agreements and is currently working on additional agreements with several landowners.

The new law allows landowners to get a much larger benefit for donating valuable development rights on their land. It raises the deduction a person can take for donating a conservation easement from 30% of adjusted gross income in any year to 50%. Further, it increases the number of years over which a donor can take deductions from 5 years to 15 years.

Of particular interest to Island County landowners, the new law allows farmers and ranchers to deduct up to 100% of their income, provided the land remains available for agriculture production. Powell added: “These tax benefits are the most sweeping changes to conservation tax law in two decades. They offer an unprecedented opportunity to conserve the lands we cherish and preserve our traditional agricultural land uses.”

These provisions are effective for donations made from January 1, 2006 through December 31, 2007. After that, unless Congress extends it, the law will revert back to previous provisions.

The bill also sets higher standards for appraisers and appraisals of all donated property, and sets higher penalties for inflated appraisals.  Land Trusts across the country supported this addition to ensure the integrity of the charitable donation process. 

For more information, please read our fact sheet.

The Whidbey Camano Land Trust is a charitable, non-profit conservation organization dedicated to protecting the natural habitats and rural lands on Whidbey and Camano Islands in partnership with landowners and the broader community.