Virginia allows an income tax credit for 40 percent of the value of donated land or conservation easements. Taxpayers may use up to $100,000 per year for the year of sale and the ten subsequent tax years. Unused credits may be sold, allowing individuals with little or no Virginia income tax burden to take advantage of this benefit.
To be eligible for tax credits, the easement must qualify as a charitable deduction under the IRS Code and meet additional requirements under the Virginia Land Conservation Incentives Act.
DCR is responsible for verifying the conservation value of Land Preservation Tax Credits for all donations of land or conservation easements for which the donor claims a state tax credit of $1 million or more. These applicants must meet the Conservation Value Review Criteria adopted by the Virginia Land Conservation Foundation Board (VLCF).
Contact Land Preservation Tax Credit
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Land Preservation Tax Credit is not employed by or affiliated with the Virginia Land Conservation Assistance Network, and the Network does not certify or guarantee their services. The reader must perform their own due diligence and use their own judgment in the selection of any professional.
Contact Land Preservation Tax Credit
Virginia Department of Conservation and Recreation
600 E. Main St
24th Floor
Richmond, VA 23219
Phone: (804) 225-2048
Service Area
