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Our View
Easement
incentives at risk
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The U.S. Congress Joint Committee on Taxation
(JCT) is puttering with proposed changes to the
tax code.
Their efforts could eliminate federal income tax incentives for many conservation easements in this county and others.
Incentives for those working farms and other properties that still qualify could be reduced significantly making it less appealing to protect your property for scenic purposes or ftiture development.
Their recommendations for relooking at these tax incentives are based on a few cases where tax incentives were abused. Apparently some landowners worked the system to receive tax windfalls disproportionate with the value of their easements
Now, it’s sort of like the rotten apple in the barrel.
A few bad ones and lots of folks’ conservation efforts could be spoiled for the future.
Conservation easements do provide real public benefit and they should be fairly appraised.
The JCTs proposed recommendations which don’t discriminate between those conservation efforts which are abusive and those which are legitimate will only serve to harm everyone in counties where preserving the natural beauty of the land is a primary focus — like Rappahannock where more than 20,000 acres have been preserved.
There are several conservation groups in Rappahannock and they should continue to support incentives that let and encourage people to protect their land.
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