Land Conservancy to offer free seminar

The Land Conservancy will host a free seminar and lunch from 10 a.m. to noon Tuesday, Aug. 26, for landowners interested in learning more about an income tax incentive available for choosing to preserve agricultural, natural or historic land.

The seminar will be held at the McHenry County Farm Bureau, 1102 McConnell Road, Woodstock.

The incentive, expiring Dec. 31, 2009, applies to a landowner's federal income tax; raises the deduction for donating a voluntary conservation easement from 30 to 50 percent; allows farmers to deduct up to 100 percent of their income; and increases the number of years over which a donor can take deductions from six to 16 years.

This seminar will feature information from legal experts, tax experts and real estate valuation experts, as well as local, private landowners who participated in the 2007 program.

A conservation easement is an agreement between a private landowner and an agency such as The Land Conservancy of McHenry County, whereby the landowner voluntarily relinquishes his or her property development rights in perpetuity (this means no one, not even future landowners, can develop the property for residential or commercial use).

The properties we protect typically have a significant special characteristic such as wetland or high quality natural area, groundwater recharge area, oak-hickory woodland or savanna, agricultural use, or wildlife habitat - values that, if protected, also would benefit the public.

Landowners may wish to retain the right to build one or more houses on the property, depending on its size, as well as accessory structures like barns. The details of what can be built on the property are tailored to fit the landowner's needs and are outlined specifically in the conservation easement document.

Another thing to point out is that, while the owners give up development rights, they may retain the option to farm the land as they choose. Again, these are details that are tailored to fit the needs of the landowner while fitting into the spirit of the conservation easement framework.

To register, call The Land Conservancy of McHenry County at (815) 337-9502. Web site is www.ConserveMC.org.