Wednesday, March 5, 2003

Conservation options create tax incentives

More than 90 percent of the land in Georgia is privately owned. This means that the future health of our land, water and wildlife is up to landowners like you. There are many opportunities available to help you protect and improve the natural resources on your property. The following is an outline of some programs that might be useful in helping improve natural resource management and offer some tax incentives and savings.

There are two kinds of conservation options available to landowners. One is programs, usually governmental that have been created to encourage specific practices. These are incentive programs that can offer annual rental payments, incentive payments, cost-share payments, tax relief or technical assistance. The second type is general opportunities that are usually agreements between the landowner and a government agency or nonprofit organization. These options usually have a wide range of incentives such as tax relief, relief from regulations, access to resources, or profit from sale of property.

Many of these options require covenants that can range from 10 to 15 years. There are specific limitations and restrictions to all programs.

Cost-share incentive programs

Conservation Reserve Program (CRP): Removes highly erodible agricultural lands from production, enhancing wildlife habitat, protecting soils and water quality. Annual rental payments are provided and cost-share payments for establishing some practices. Covenant 10-15 years. Contact your local Farm Service Agency (FSA) and Natural Resources Conservation Service (NRCS) office for more information.

Environmental Quality Incentives Program (EQIP): Identifies resource conservation priorities and address concerns such as soil erosion, water quality, etc. Cost-share payments of up to 75 percent are available to establish conservation practices. Covenant 5-10 years. Contact your local NRCS office for more information.

Partners for Fish and Wildlife (US Fish and Wildlife Service 912-265-9336 Ext. 25): Restores and enhances unique ecosystems such as wetlands and improves wildlife and fish habitats. Cost-share payments can be available for habitat restoration. Ten-year covenant.

Wetland Reserve Program (WRP): Voluntary land retirement program designed to improve water quality and enhance wildlife habitats. Provides technical and financial assistance. Covenant can range from 10 to 30 years. Contact your local NRCS office for more information.

Wildlife Habitat Incentives Program (WHIP): Land-management program to create, enhance and restore habitats for many types of wildlife and plant species. Cost-share and technical assistance are available. Covenant for 5-10 years. Contact your local NRCS office for more information.

Tax relief programs

Conservation Easements: (Land Trust) This is a legal agreement between a landowner and a qualified conservation organization which contains restrictions that you voluntarily place on your property. Eligible lands must be relatively natural, historically important, or hold significant aesthetic or recreational value. This program can provide reduction in federal and state income and estate taxes, and property tax savings. Ten-year covenant. Contact the Georgia Land Trust Service Center at 706-546-7507.

Current Use Valuation of Conservation Use Properties: Environmentally sensitive lands can be dedicated for up to 10 years (covenant) and can provide a reduction in property tax. Contact your county tax assessor's office for details.

Easements with a Wetland Mitigation Bank: Reduction of taxes, possible monetary compensation and restoration of wetlands are available. When developers destroy wetlands, they can compensate for the lost acres by hiring a mitigation bank to protect intact wetlands or to restore degraded wetlands. You can offer wetlands on your property to a mitigation bank for protection or restoration. Although the landowner retains title to the property and controls access, conservation easements require that development rights in those wetlands be forfeited. Contact the Georgia Wetland Trust fund at 706-546-7507.

For more information on conservation programs contact the agency indicated in each example above or the Georgia Forestry Commission at 770-227-5522 or 770-358-1459.

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