Selling the property to a land trust at below fair market value allows the landowner to adjust the transaction to balance needs for immediate income with long term tax advantages. The reduced sale price has the added advantage of lowering heavy capital gains taxes on appreciated land. Donated or bequeathed land becomes the property of a land trust to be conserved in accordance with the donor's wishes. Charitable remainder trusts, charitable lead trusts, life estates and other techniques are used to suit the needs of the donor. Substantial tax advantages may be available.
Limited development is sometimes the only way to protect an environmentally important property.
Sensitive development of the least environmentally important part of the property is used to finance the acquisition of the remainder. The Harford Land Trust counsels property owners in confidence and without obligation on preservation techniques and tax consequences. However, landowners should consult an independent financial advisor or tax attorney before making a final decision. Produced by the award-winning team of photographer David Harp and author Tom Horton, this visually stunning tour of Harford County includes commentary by local residents and makes a persuasive case for sensitive land use. The Trust recognizes that education is an important part of its mission and welcomes opportunities to explain land conservation, its benefits and techniques, to county schools, civic and community groups and professional organizations.