A Chance To Protect Georgia’s
Forests, Farms And Wetlands
From the Appalachian Mountains to the coastal plains, Georgia’s natural beauty
is a source of pride. But out-of-control development is quickly transforming working
family farms, sensitive watersheds and unspoiled forests into subdivisions and
strip malls.
Environment Georgia is working with the state legislature to provide landowners and farmers with strong incentives that will allow them to keep their land out of the hands of developers.
Doing More To Preserve Our
Land
We need to reverse Georgia’s weak track record of green space protection.
Right now, only eight percent of Georgia’s green spaces have any protection.
Land is critical for:
Clean water—Green spaces protect the quality of our water supply because forests
and wetlands naturally filter run-off pollution.
Wildlife Habitat—Forests, coastal marshes and other green spaces provide habitat
for 63 threatened and endangered species.
Flood protection—Our green spaces soak up and slow the flow of water to protect
property owners from flooding.
Incentives To Conserve Green Space
Because land in Georgia has become so expensive, it is impossible for the state
to simply purchase all of the green spaces Georgians want preserved.
However, we can provide families with powerful incentives to conserve their own
land and protect it from development.
An advisory council for Gov. Perdue has recommended establishing a Land Conservation
Tax Credit to allow families to keep their land and keep our green spaces green.
How It Works
Landowners who choose to permanently conserve their land would receive
an income tax credit equal to 25 percent of the land or development
rights donated to land trust, local or state government.
For example, a retired forester enters into a legal agreement with a local land trust to permanently restrict development on 41 acres of forestland he owns. By permanently conserving the land, this legal agreement, or conservation easement, reduces the fair market value of the land from $220,000 to $140,000, a difference of $80,000. Since the $80,000 donation represents a gift to the land trust, the retired forester would be eligible for a 25 percent income tax credit on his gift of $80,000—or a tax credit of $20,000.
If his state tax liability on $30,000 in income before the gift is $1,500, his tax liability is reduced to zero for the year in which he made the gift. He can continue to reduce his tax liability for five more years realizing $9,000 of the potential $20,000 tax credit.
We Need Conservation Incentives Now
To protect our forests, farmland and coastal wetlands from development we need
to act fast. Consider that in just five years, from 1992 to 1997, more than one
million acres of Georgia’s green spaces were
developed.
Environment Georgia worked with the state legislature to establish
the Georgia
Conservation Tax Credit that will provide landowners with a 25 percent income tax credit
when they conserve their land by donating it or entering into an agreement to
permanently protect it from harmful development.
You Can Make A Difference
The legislation has passed, but the
Board of Natural Resources is still required to compose rules regarding what
properties are suitable for conservation purposes. We’ll need your help this
summer to weigh in with the Board to ensure that green space, not golf courses,
are being protected.
