A Richmond conservation and façade easement disputes tax lawyer could clarify property tax disputes and help you save time and money on future income tax returns. If you are struggling to communicate with your neighbors or the government regarding property taxes on easements or taxes on conservation property, a skilled attorney at Whiteford Tax Defense is here to help.
We will work hard to protect your rights, assets, and financial future during this stressful time, especially when land donors have only the best intentions. Conservation land and façade easement disputes can be complicated; do not try to handle this hassle alone. Reach out to a seasoned IRS audit attorney from our firm today
The Virginia Land Conservation Incentives Act (LPTC) of 1999 allows landowners to take advantage of an income tax credit for 40% of the value of land donated to conservation easements with the following restrictions:
To qualify as a donation, the land must be intended for:
It must also be donated to a genuine 501(c)(3), 501(c)(4), or 501(c)(19), organization registered with the IRS.
Historic properties and wildlife conservation areas often generate income via admission charges or donations. The original land donor is not responsible for paying income taxes on those funds, and the charitable organization is likely exempt from them, too. Donors should contact a Richmond conservation and façade easement disputes tax attorney if they forgot to apply their tax credit to a return or do not know how to report the purchase or sale of conservation property.
A façade easement is a specific agreement between a landowner and a conservation agency or trust. It is meant to protect the exterior of a structure, especially the façade — the front, or public street side — of a building.
Façade easements exist in perpetuity, meaning they last forever and help protect Richmond’s rich history for future generations. The ultimate goal is to make a historic structure, something like a time capsule or museum, so that people can see famous and historic homes and properties forever. A façade easement means a building will never be brought up to new building codes or retrofitted (beyond some accessibility or public safety concerns).
They also offer income tax benefits for property owners at the federal and state levels, as long as the structure or property is occasionally viewable to the public.
Common Richmond façade easement tax disputes a lawyer could handle include proving that an easement is valid, proving that a property or structure is truly historic, and solving public viewing obstructions (or reporting public accessibility).
An experienced Richmond conservation and façade easement disputes tax lawyer could help get the tax benefits you deserve for your land donations and façade easement agreements.
At Whiteford Tax Defense, we are proud of our local Richmond heritage and history, and we will not let the government take advantage of our clients. Contact us today for dedicated legal counsel.