The following information is provided by the EAC to
help educate the township residents on environmental issues within the Township
Open Space Preservation Bushkill
Township has an Open Space Program for the preservation of farmland and natural
areas throughout the Township. Basic options for land preservation are
presented below in "A Property Owner's Guide to Land Conservation."
Specific information regarding the Bushkill Township Open Space Program may be
downloaded from the following two links:
While Pennsylvania is blessed with truly remarkable scenic, cultural and natural
resources, the pressure of development is increasingly changing the face of our
landscape. Rather than selling for development, a landowner has many other
options available that allow them to get value out of their property while
assuring that the land will remain as farmland or natural area.
Below are many conservation-related techniques that can be tailored to meet a
landowner’s unique needs.By making
use of any of these techniques, a landowner can have pride
in honoring our region’s heritage, as well as establish a legacy of conservation
for their family and community.
Conservation Easement Purchase or Donation
The Conservation Easement is great way for you to permanently preserve your land
and still retain ownership. A conservation easement is a legal agreement between
a landowner and a land trust or government agency that permanently limits uses
of the land in order to protect its conservation values.Public access to your property is not a requirement, although may be
offered to varying degrees.
Conservation easements may be established for a property through purchase (by
land trust or government agency) or donation, both of which have certain
advantages for the landowner.
Details on both methods are described below:
Purchase of Conservation Easement
·Cash
for the sale of the development rights.
·Retained
ownership and the right to continue using the land (e.g. farming, hiking, etc.),
as well as the right to sell the preserved land or to pass it on to heirs.
·Reduced
value of the land for estate tax purposes since the development rights are
removed.
·Potential
reduction in annual property taxes.
Donation of Conservation Easement
·Substantial
charitable tax deduction.
·Retained
ownership and the right to continue using the land (e.g. farming, hiking, etc.),
as well as the right to sell the preserved land or to pass it on to heirs.
·Reduced
value of the land for estate tax purposes since the development rights are
removed.
·Potential
reduction in annual property taxes.
Additional
conservation-related techniques that can be tailored to meet a landowner’s
unique needs
include:
Fee Simple Sale
Funding is also available to purchase parcels in their entirety that meet open
space criteria. You receive cash for the sale of the land, and know that there
will be public enjoyment of the land.
Bargain Sale
If you agree to sell your land or just its development rights at less than the
appraised value, you could qualify for a charitable tax deduction.This helps the public or nonprofit conservation buyer to spread its
limited resources further while at the same time helping you to offset any
capital gains on the sale of your property or its rights.You still receive cash for the sale, but you also can benefit from a
tax-reducing charitable donation.
Land Donation
As a step further, you may want to consider preserving your land through an
outright donation to a municipality or conservation organization.A donation is a simple transaction that provides a substantial charitable
tax deduction.In addition, it is
another helpful estate planning tool, by removing the land from your portfolio.
Like-Kind Exchange
A like-kind exchange is a tax-free transaction that allows you to exchange funds
from the sale of your property for another qualified property.To benefit from the tax deferral, you need to adhere to the provisions of
Internal Revenue Code 1031.The
exchange is fulfilled through investing the proceeds from a sale of your land or
its development rights into a qualified business or investment property.This tool allows you to benefit by deferring capital gains from the
original sale.
Conservation-Based Development
Conservation-based development is the thoughtful, reduced density subdivision
that respects your property’s natural and cultural features.A successful conservation-based development uses good conservation design
while meeting your financial goals.
By voluntarily reducing your property’s development potential, you could qualify
for a charitable tax deduction, expedite a municipality’s subdivision approval
process and reduce subdivision infrastructure costs.
Blending the Tools
The above-referenced tools can also be blended together to help you achieve the
greatest benefits possible!
Considering these conservation tools can create a win-win situation on all
levels. You can meet your financial goals, while helping to conserve our
region’s heritage today and for future generations to come. If you are
interested in learning more about these options please notify the Bushkill
Township municipal office at 610.759.1250 or attend a regularly scheduled
meeting of the Bushkill Township Environmental Advisory Council held on the
second Thursday of each month at 7 p.m. at the Township Building.
