New CR in Berlin
In early April, SVT was delighted to accept a conservation restriction (CR) from Jeffrey and Gretchen Stoddard on their beautiful property in the northern part of Berlin. The CR forever limits the use of these 20 acres of pastureland and woodland to a single-family home and horse facilities.
The Stoddard land abuts the picturesque Great Oak Farm, which SVT and the Town of Berlin conserved with a CR in 2018.
By donating the CR to SVT, the Stoddards are able to take advantage of the Massachusetts Conservation Land Tax Credit (CLTC). This credit rewards landowners who donate land or a CR (or sell it at below-market value) to permanently protect an important natural resource.
Landowners who qualify can get up to $75,000 in a state tax credit, which can go a long way toward covering transaction costs such as appraisals and legal fees. Massachusetts funds the program for up to $2 million per year, and donors must be certified prior to making the donation. (The CLTC is so important to our work that SVT and other groups are supporting legislation to increase the funding to $5 million per year.)
Although the tax credit makes a nice incentive, for most landowners it plays only a small part in the motivation to leave a legacy of conservation. The Stoddards have made an incredibly generous gift to SVT and to their community in Berlin, and we are truly grateful! Thank you.