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take advantage of state and federal income tax deductions, estate tax benefits and reductions in property taxes. Effective last January, a new Virginia State income tax credit offers an added incentive to landowners donating a conservation easement. It allows . a state income tax credit of up Jo 50 percent of the fair market value of the donated easement. In most instances, the deduction is limited to the amount of state income tax owed in, a given year, but the credit cgn be spread over six years. Depending on individual circumstances, an easement donor will benefit from this new tax credit, in addition to the other existing deductions*«
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