What is a CR? Is it right for me?

A Conservation Restriction (CR) provides a way to protect your land from development in perpetuity. The exact terms may vary. In some cases the restriction may stipulate that the land be kept "forever wild," i.e. protected not only from building but from any alteration whatsoever. More commonly a restriction will prevent building on the land, but will allow for trials, for agricultural use such as grazing or sugaring, and for limited harvesting of fine wood or timber under a forest management plan.

It's important to note that a CR, in order to be enforceable over the long term, must be held by a government body or by a non-profit organization such as the Land Trust. It must also be approved by the state and by the town. A CR does not affect your ownership of the land, only the uses to which it may be put. Protected land may be bought and sold like any other real estate, but the restriction, of course, survives the sale.

Along with the reassurance it offers, a CR can provide certain practical benefits to the landowner. Placing a CR on your land inevitably lowers its appraised value. The difference between its value before and after restriction can be taken as charitable tax deduction. Deductions must not exceed 30% of your adjusted gross income in any year, but they may be carried forward for up to six years. A CR often lowers property taxes as well.

How do you go about putting a CR in place? The Land Trust can guide interested landowners through the process and help to obtain the necessary appraisals and legal documents. Although there is no charge for this service, the Land Trust encourages a donation equal to 5% of the donor's charitable deduction.

To explore whether a Conservation Restriction is right for you contact Rich Hubbard at 413-625-9151 ext. 1.

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