NYS Conservation Easement Tax Credit (Conservation Easement Credit)

Refundable New York State income tax credit for owners of land under a permanent Article 49 conservation easement held by a public or private conservation agency and registered with DEC: 25% of school, county and town property taxes on the eased land, up to $5,000 per year. Farm and forest landowners who have donated or sold easements (below market value) to land trusts, SWCDs or municipalities qualify.

Owners of property encumbered with an Article 49 Conservation Easement: individuals, estates and trusts, partners in a partnership (incl. LLCs taxed as partnerships), Article 9-A business corporations; not available to S corporations or not-for-profits; easement must be permanent, in NYS, held by a public or private conservation agency, registered with DEC with a DEC CE identification number; easements purchased at market value are ineligible.

25% of eligible property taxes up to $5,000 annually; refundable.

Published amounts: annual income tax credit of 25% of their school district, county, and town property taxes up to $5,000. If a landowner's tax credit exceeds the amount, the taxpayer owes in state income taxes, the landowner receives a payment for the difference.

Claim on the NYS income tax return using Tax & Finance conservation easement credit forms; need copy of the filed easement, recording information, holder name, DEC CE ID number, and property tax amounts.

Deadline text on the page: Annual income tax credit claimed each tax year.