Mass Conservation Land Tax Credit Update - Sept 2012


This will serve as an update to all interested parties about the availability of the Conservation Land Tax Credit (CLTC) for calendar 2012.

As of today, August 10, 2012 we have received 46 new applications in calendar 2012, of which some have been denied, cancelled or withdrawn. There were also 3 applications that were carried over from 2011 to 2012. Together, these applications add up to over 2,223 acres of great conservation land.  

The 2012 ?cap? for the CLTC program is $2 million, and we have reached that cap at this time. This means that if all the current applications are carried through to a $50,000 tax credit, or to their appraised tax credit amount, $2,000,000 will be expended. Please note that some current applications may still appraise lower than expected and others may yet be cancelled, which would therefore free up small dollar amounts for reallocation to the next application in line. (We may be able to fund one or two more applications)

All applications that have been submitted up to #0079 have funding reserved for them and will be funded if they successfully complete the entire gift/bargain sale, tax credit process.

Applications that come in from this point through the end of 2012 will be fully evaluated for CLTC eligibility and the applicants will be notified of that eligibility determination. They will also then be notified that they are on the 2012 waiting list and will be contacted if funds become available. If no funding becomes available by November 16, 2012, they will be asked to move their application and the closing on their donation to calendar 2013. Their place in ?line? will be preserved and they will receive funding for the tax credit in 2013.

Please also note that you must apply to the tax credit program before you actually donate the land or sign a conservation restriction. If you are submitting a new application please be sure to use the latest version located at http://www.mass.gov/eea/land-use-habitats/land-conservation/massachusetts-conservation-tax-credit-program..html

Thank you.

Tom Anderson
Program Coordinator II
(617) 626-1013