News

New Federal Law Gives Greater Tax Benefit for Voluntary Conservation Agreements

Congress recently passed a law extending for two years the tax benefits of protecting private land for many landowners (which had expired at the end of 2007).  The legislation improves the tax incentive for conservation easements by allowing conservation easement donors to:

• Deduct up to 50% of their adjusted gross income in any year (up from 30%);
• Deduct up to 100% of their adjusted gross income if the majority of that income came from farming, ranching or forestry; and
• Continue to take deductions for as long as 16 years (up from 6 years).  

Congress also passed tighter appraisal standards for such gifts, and stronger penalties for appraisers who violate the standards.

The Land Trust Alliance led a coalition of more than 50 groups in urging Congress to approve this new law.  The Alliance is a national organization that sets national standards for conservation organizations like ours, provides training and networking opportunities, and represents the land trust community in Washington, DC, HeadWaters has long been a member of the Alliance.

Senator Debbie Stabenow and Congressman Bart Stupak have been strong supporters of our work, and were very supportive of this effort.  Our thanks to them for their help in winning this expanded tax deduction for conservation donors.

Each day we are touched by the generous and inspired landowners who work with us.  The new law will make it easier for others in our community to build on their love of the land and permanently protect the beauty of northern Michigan

HeadWaters Land Conservancy Membership Gathering 2008

July 19^th, 2008 started as a hot, partly-cloudy day that held the threat of afternoon showers, but the group of members, staff and trustees of the Conservancy who met at Gate’s AuSable Lodge managed to get in a great day of food, friendship, and sharing of our excitement for land conservation before the rains came.

The day included lots of time for informal conversation and meeting new friends over a picnic meal of burgers and brats.  It was good to be able to put names with faces and hear from several members who have been involved with HeadWaters from the beginning (see the story by Joe Kutkuhn elsewhere in this issue).  Highlights included some great silent auction items, a talk from the University of Michigan Biological Station’s Director Knute Nadelhoffer on the station’s 100^th year of teaching and research, recognition of the long tenure of out-going trustee Steve Qua, and have we mentioned all the great food?

While the unsteady weather kept some of you from attending, we hope to see you next year for a great day of fun, fellowship, and celebration of our continued successes in protecting the land and waters of northern Michigan.

Thanks to all who worked to make this year’s gathering a success, everyone who donated or bid on auction items, and a special thank you to our hosts, Rusty and Julie Gates.