Mass. To Give Tax Credits For Donated Land
Environmental officials are hoping to boost conservation in Massachusetts by offering tax credits to residents who donate land to the state.
Energy and Environmental Affairs Secretary Richard Sullivan announced Monday eligible land donors can receive a state income tax credit equal to half of the appraised value of the donated land under a new conservation initiative.
Donated land must be valued at $100,000 or more and the land must conform to regional and state long-term land conservation land goals.
The tax credits are capped at $50,000 for each parcel of land and the program will offer a total of $2 million in tax credits.
Sullivan says more than 85,000 acres have been protected since 2006.
Donors of conservation land have until Oct. 3 to submit applications to the program.
This program aired on September 19, 2011. The audio for this program is not available.