OPEN SPACES The latest news from the Ojai Valley Land Conservancy
Vol. 13 No. 4
Working to Protect The Ojai Valley’s Future - Today
Winter 2006
Legislative Victory for Land Conservation Congress Acts to Support Conservation of Family Farms and Ranches ew land conservation tax benefits for family farmers and ranchers are included in just passed pension reform legislations. The new N law will combine an adjusted tax incentive for land conservation with common sense reforms to ensure the public benefit of conservation donations. “This law will help landowners and land trusts protect important lands across America,” said Ojai Valley Land Conservancy Board Member Larry Rose. THE NEW LAW: Raises the federal income tax deduction a landowner can take for donating a conservation easement from 30% of their adjusted gross income to 50% in any year. Damage to the Allows qualifying farm- Streambank in 2005 ers and ranchers to deduct up to 100% of their income. Extends the carry forward period for a donor to take tax deductions for a voluntary conservation agreement from 5 to 15 years allowing you to take advantage of this tax deduction for an extra decade. It is important to note that the new tax incentive expires in December 2007 so unless the incentive is extended it will only apply to easements donated in 2006 and 2007. “Historically the federal conservation deduction didn’t work well for many family-owned ranches and farms, especially in areas with high land values. This will make voluntary conservation a realistic possibility for more people in agriculture” said Rose. “Better conservation tax incentives will help them preserve their land without putting their family’s economic future at risk.” Voluntary conservation agreements, also known as conservation easements, are an important tool for land conservation. When landowners donate voluntary conservation agreements they continue to own and use their land and can still sell it or pass it on to their heirs. The easement is a legal agreement between a landowner and a non-profit land trust which ensures that its natural value and heritage will be preserved. Many landowners can take advantage of this new tax incentive obtaining a significant tax benefit for making the charitable donation of a conservation easement. The new incentive will also help Americans who want to pass their working family farms and ranches on to their children and grandchildren. Conservation easements are a great way to respect private property rights while providing the public benefit of protecting America’s open spaces.
A SUCCESSFUL EASEMENT: In April of 2004 the Land Conservancy completed a thirty-acre land protection effort at the confluence of San Antonio Creek and the Ventura River on a portion of the 260-acres of land owned by the Wallevik family. In addition to high quality riparian and oak/walnut woodlands habitat, a portion of the ranch is used for growing avocados and raising cattle. During the floods of 2005 the river at the Confluence sustained a considerable amount of damage to the streambank. The rapid flowing water changed the landscape in significant ways (see photos). The Conservancy applied for and received funding from three different sources, California Department of Fish and Game, NOAA Fisheries and NRCS. The bulk of the OVLC streambank stabilization project has been completed along 350 feet of riverbank Restoration Project exposed by the 2005 floods. The bank was secured with 7 trenches that were each planted with thousands of willows so as to protect the bank by deflecting storm flows and capturing sediment for further bank protection. When the Wallevik family sold 14 acres of land to the OVLC they also chose to grant the Conservancy a conservation easement on 16 adjoining acres as part of an effort protecting three miles of the lower sections of the Ventura River and San Antonio Creek. This also presented them the opportunity to secure the 350 feet of river bank. The conservation easement and the bank stabilization project is a working example of partnerships between ranchers and the OVLC that create benefits previously unavailable before the new tax incentives. Contact the OVLC to see how the new laws can benefit you while protecting your property rights and preserving open space at the same time.