Lawmakers promise to crack down on conservation easements | SummitDaily.com
YOUR AD HERE »

Lawmakers promise to crack down on conservation easements

DENVER ” State lawmakers are vowing to crack down on landowners who abuse the tax breaks that come with conservation easements.

Lawmakers said Tuesday they plan to introduce a bill requiring state officials to review any proposed easements.

Conservation easements guarantee that land will not be developed. Property owners can write off easements as a charitable contributions, and they get to keep the land.

State officials say they have found widespread abuse of the program, including people who got tax credits for agreeing to preserve their back yards.

Officials say things got so far out of control they had to ask the IRS to audit people who claimed credits they weren’t entitled to.


Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.
 

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User