Conservation decisions are personal. Each has its own unique circumstances. You may want to protect the land while passing it on to the next generation. Others may want to ensure their property's unique circumstance, to protect privacy, or sort out vacation usage by an extended family.
Conservation takes many forms: protecting shorelines and spawning areas for fish and fishing, protecting a vista or a view of a prominent place, preserving the character of historic buildings, cottages and boathouses, or finding creative solutions for development that avoids destroying the natural and cultural features that attract people to our area. Conservation planning is a mix of land use with your financial,
tax and other plans.
KEEPING YOUR PROPERTY
Most landowners want to continue to own their property. You might apply to put your property into a reduced property tax category, such as residential/ farm, farm land or other "current use" designation. There are also programs to reduce' tax such as the Managed Forest Tax Incentive Program. We can help find the right sources for this assistance.
Other options include different types of stewardship agreements including easements. The conservation easement is an agreement between a landowner and a qualified organization such as the Conservancy. It provides a partnership where the landowner continues to own and manage the property but within a set of agreed restrictions monitored by the conservation group. When the agreement is registered on the land title, it also governs future landowners.
Another approach involves a management agreement or lease. This would enable CTIHC or others to apply conservation measures on part or all of the land in an appropriate way, perhaps for a trial period.
GIFTING YOUR PROPERTY
You may use established estate planning practices in planning for conservation on private lands. Note:your professional advisors can guide you to your best advantage. You may wish to protect your land for future generations yet reduce ownership responsibilities. In this case, you might consider the generous gift of all or a portion of the property to a land trust like the Conservancy. This or another type of donation could be structured in several ways:
Where land or other property is given to a charity like the CTIHC, the donor may receive a number of income tax advantages. The CTIHC will issue a tax receipt that the donor can use as a credit or deduction to reduce income tax. In some instances where certain ecological lands are donated, the donor may be able to claim their donation against a larger portion of their income.
SELLING YOUR PROPERTY
You may wish to sell your property. Before the sale, a conservation easement could be donated to the Conservancy, as described above. Or CTIHC could help you find a "conservation buyer" who will help carry on your management wishes. In the right circumstances, CTIHC could also purchase the land and then sell it with restrictions, or assist in planning for creative development that will also protect the property's important natural and cultural features. Rights of first refusal to match other offers, or an option to buy at a set price over time may be arranged, as well. Purchases are dependant upon public and private financing.
The following publications may also be helpful: