Land management, one option for land owners

With all of the recent concerns regarding development, or over development, of land in Moore County, many individual citizens might wonder what they can do about it. One answer is that land owners might consider is a conservation easement.
Todd Jennings, who owns a 180 acre century farm, gave a presentation at a recent Planning and Zoning meeting about the easements. He, along with his brothers and father, have placed their farm into a conservation easement, or land trust. Once placed in a trust, the property can never be substantially changed. The land owner still owns and operates the property within agreed upon limits, and can even sell it. If sold, the land is still in that trust.
The conservation easements are entirely voluntary and are customizable. Jennings explained that he put in the option of building another house on the property. Though he has no plans at present of building, he may do so in the future. One of the meeting attendees asked if an event venue could be put on the property. If that is in the agreement, it could be done.
Jennings also pointed out that with land trusts, landowners can proactively ensure that future development is prevented on their property. This can relieve some pressure on local governments to regulate land use later.
There are tax benefits to putting property in a land trust. The property is appraised by a special appraiser. The difference between the appraisal and the determined selling price of the property at the time of trust may be deducted on income taxes for 16 years. There is work to be done in the process, including title searches, surveys, the appraisal, and legal work. Presently the state is working on legislation to reimburse or assist financially the land owner for these expenses.
There can be financial benefits to neighboring properties as well. Their value can increase as buyers can be sure that there will be no subdivisions or strip malls popping up in future years.
Property owners who would like to see their property preserved now have a viable option. While land trusts have been around for some time, they have more recently been receiving attention as rapid development threatens areas that have traditionally been more rural. It offers the property owner flexibility in tailoring the trust to desired options while preserving the nature of the property. Farms are not the only properties that can be put in trust. Scenic, recreational properties, and historic properties can be protected as well. So far, three Moore County families have used the option of a conservation easement. Jennings has had his property in trust for ten years now. For those who would like to have Moore County retain its character as a rural, agricultural community, a land trust could be something to consider.



