Open Space and Farmland Protection Options

Conservation Easement: This is the primary tool available for protecting privately-owned land.

• Identifies a right to use land for a particular purpose under specified standards.

• Restricts development or certain uses to preserve or maintain stated existing conditions.

• Follows the property and is binding on all successive fee owners.

• Each easement is individually written to meet the desired intent of the landowner.

• The easement can be given or sold to a qualified public or not-for-profit entity.

• The restriction on land lowers its value and can be used for tax and estate planning.

Check out our Easement Q&A page for more info.

Bargain or Conservation Sale

• This is a sale of property at less than full market value to a not-for-profit land trust.

• The difference between fair market value and sale value is considered a gift, providing tax breaks to the property owner.

• Land trust places conservation easements on property before selling to another owner.

• The seller may profit as much from a bargain sale as from a full market value sale after tax benefits.

Purchase of Development Rights

• New York State does this through its competitive Farmland Protection Implementation Grant (FPIG) program. Interested farmers apply through their town.

• The farmer receives cash for the difference between market value and agricultural value of the land.

• An easement which restricts development is placed on property. The farmer retains all other rights.

• Restrictions and reservations are added to the property deed and held in perpetuity.

Gift of Land by Will

• Provides for an orderly transfer of property to a group or individual for a desired use after the death of an owner.

• Reduces or eliminates estate taxes if the gift is made to a land trust or non-profit organization.

• Gift can be for a part or all of a property.

• The Landowner establishes clear terms regarding type and term of desired use as well as property maintenance and monitoring procedures.

Reserved Life Estate

• Owner deeds land to a beneficiary but maintains use and income from the property until death.

• If the recipient is a not-for-profit, the grantor can take an annual tax deduction and reduce estate tax liability.

• Owner stipulates future land use.

Agricultural Value Assessment

• To qualify, the parcel must be at least 10 acres and generate at least $10,000 in gross agricultural sales.

• Land is assessed for its agricultural use rather than its fair market value.

• Value is based on soil type.

• School and property taxes are based on agricultural value assessment, not the market value.

• Portions of woodland are eligible.

• Town does not have to be at full value assessment.

• Farmers face a penalty on conversion to non-agricultural use.

• The land must be in an Agricultural District and/or committed to agriculture for 8 years.

Your planned gift can provide lasting support to help CPF meet its mission of land protection. For more information on planned giving, see this page, or contact us at info@cazpreservation.org.