The short answer is, “probably nothing.” The reason is that if you have a qualified conservation easement that NCCT will accept, then you probably can claim all expenses and contributions relating to the easement against your gross income used to determine federal and state taxes. Secondly, in the previous three segments, we describe potential tax savings resulting from reduced property value. It is not unusual for property in Central Wisconsin to be revalued at $30,000-40,000 less as a result of an easement, depending on the location and size of the property. (See “Tax Benefits” in the Land Conservation Options.) You will want to check with your attorney or tax advisor, but in most cases, a property owner ends up saving money with an easement. That said, there are up-front costs in addition to the $500 you gave to NCCT to initiate work on your easement. At closing, you will be asked to pay all attorney and filing costs incurred by NCCT, amounting to $1200 on average. You will also be asked to make a donation to NCCT’s easement protection and stewardship endowment. The amount you donate is up to you, but we suggest a minimum of $5000, and if your easement has greater risks or is more difficult to monitor, our guidelines suggest up to $10,000 donation. Remember that all costs and donations can be claimed when you calculate your taxes.
