Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 4 · column 3 of 7 · from the scan, no model involved
3) The landowner completes U.S. IRS Form 8283, listing the appraised value of easement. The form is signed by both the appraiser and the donee organization.
4) The landowner files a “Form LPC” with the Virginia Department of Taxation to notify the Department that land preservation tax credits have been created (by donation of the easement).
5) The landowner qualifies for Virginia land preservation tax credits equal to one half of the appraised value of the easement. Tax credits may be used in the year the easement is donated and for five additional years thereafter.
6) If unable to use the credits, the landowner may sell them to taxpayers who can, either privately or through a broker who receives a commission.
7) The first step in the sale of credits is signature, by both landowner and would-be buyer, of either a letter of understanding stating what they are both agreeing to or a more formal “ Transfer of Virginia Land Preservation Tax Credits Agreement,” which is a contract. (The standard form of this agree
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