Conservation Project Costs

The gift of a conservation easement is a complex transaction involving legal, real estate, and financial planning expertise. In general, landowners cover the costs associated with their easements. In cases where the landowner is claiming a tax deduction for his/her donation of an easement, many of these costs are also deductible. In fact, the tax benefits obtained through the gift of an easement often far exceed the costs. If a landowner is not comfortable bearing the costs of an easement transaction, UVLT may seek alternate funding arrangements.

Prior to spending substantial staff time on a conservation easement project, UVLT will review expected costs with you to reach an understanding as to how these will be paid.

Legal and other professional fees – Although UVLT will draft the necessary documents, you are encouraged to obtain your own legal counsel. If you are influenced by income tax and estate planning considerations, you should also seek advice from a financial planning professional.

Appraisal – If you plan to claim an income tax deduction for your charitable gift, you will need a qualified appraisal to substantiate the value of the gift. UVLT cannot cover the costs of your appraisal without becoming the appraiser’s client – thus putting your tax deduction at risk.

Survey – Depending on the quality of existing maps, the conditions of your boundaries, and the terms of your easement, some surveying work may be necessary.

Staff expenses – Depending on the size and character of your property, the scope and complexity of the conservation easement, and the number of revisions and review sessions involved, UVLT staff may spend 60 hours or more to complete your project. UVLT will provide an estimate of this cost and updates as your project progresses.

Stewardship Endowment Contribution – UVLT’s Stewardship Endowment funds the monitoring and enforcement of the easements UVLT holds. For every new easement UVLT accepts, a one-time contribution must be made to this fund. The amount required will be based on the specific terms of your conservation easement. Contributions to the Stewardship Endowment are considered tax-deductible charitable gifts for federal income tax purposes.