Without the tax credit, it would have been difficult to obtain these tracts. Ranging in size from 5 to 240 acres, these parcels are held by the conservancy until they can be transferred to the growing Lumber River State Park. So far, the conservancy has deeded about 400 acres to the park. Local interest in protecting the river from development, including the grassroots efforts of McLean and many others, helped convince Gov. Jim Hunt in 1996 to petition the U.S. Department of the Interior to designate the Lumber River as a National Wild and Scenic River. We look forward to working with the state to help preserve the river's outstanding character in perpetuity.
All great endeavors start with small steps in the right direction.
How the Tax Credit Works Tax credits, unlike tax deductions, are dollar amounts that can be subtracted directly from state taxes owed. In North Carolina, the Conservation Tax Credit is 25 percent of the value of the property or conservation easement. For conservation easements, the credit is based on how much the value of the land is reduced. There are, of course, limits to the state's generosity. Any excess tax credit can also be carried over and used for five additional years.