Tax and Estate Planning Benefits of Conservation Easements
Date: February 5, 2004
FOR IMMEDIATE RELEASE
Contact: Ed Overton, JCC PDR Administrator
Phone: (757) 259-3161
Landowners, attorneys, and accountants are invited to attend the Tax and Estate Planning Benefits of Conservation Easements seminar sponsored by the James City County Purchase of Development Rights Program (PDR). The program is free and open to the public and is scheduled for Wednesday, February 25, 5 - 7 p.m. at the James City/Williamsburg Community Center, 5301 Longhill Road. Preregistration is requested by February 24 by calling 259-3161 or by E-mail to firstname.lastname@example.org. Light refreshments will be provided.
The program is for those with a personal or professional interest in learning more about tax issues affected by the gifting or sale of a conservation easement to the County. Participants will learn about Virginia's Conservation Easement Tax Credit Program and the impact a conservation easement may have on estate, income, and real estate taxes. Speakers include Neal Barber, Vice President for the Middle Peninsula Land Trust, Gloucester, VA; J. Brooke Spotswood, Attorney, Gloucester, VA; Rebecca McCoy, CPA, Mathews, VA.; and Richard Bradshaw, Commissioner of Revenue, James City County.
A conservation easement is a voluntary agreement between a landowner and a qualified conservation organization or a locality. An easement is designed to permanently protect specific natural, scenic or historic features of the land while respecting private property rights. In 2003, the PDR Program purchased conservation easements on four James City County parcels, preserving 363 acres of farm, forest, and environmentally sensitive lands.