From an editorial Tuesday in the (Raleigh) News & Observer:
Bob Kellam and Susan Wyatt are retired from the Environmental Protection Agency, but theyre not done protecting the environment. The husband and wife announced a conservation easement last week that will eventually donate their 58-acre farm near U.S. 264 and New Bern Avenue to Raleighs City of Oaks Foundation.
The property is valued at $3.7 million, but the couple are willing to forsake the cash for what they consider a greater fortune: land forever open as a natural asset for future generations.
But the good news comes amid a discouraging end. The easement will be the last before a state conservation tax credit expires Dec. 31 as part of tax code changes approved by the Republican-led General Assembly.
The new legislation eliminates a raft of tax credits and deductions to support a lower, flat state income tax rate. Average taxpayers may see a few more dollars in their take-home pay as a result of the changes, but North Carolina may get less of what Kellam and Wyatt consider more valuable than money.
North Carolina was a national leader when it established the income tax credit for natural land donations in 1983. Since then, more than a half-million acres of natural landscape in hundreds of locations have been permanently protected.
Its a curious thing that the legislatures conservatives would not favor conserving, particularly when it involves the states most precious natural assets.
Sen. Bob Rucho, a Mecklenburg Republican and one of the main authors of the tax changes, says talk of land donations drying up after the credit expires is off the mark. Rucho says people give land for many reasons beyond a tax credit, and indeed Kellam and Wyatt said the credit was not a significant factor in their decision. The senator also notes that donors will still be eligible for federal tax deductions.
Finally, Rucho says, the loss of the credit may actually spur donations. He says land owners will save so much under the new tax plan that theyll feel more inclined to donate land.
But land conservation experts say ending the tax credit will cut only one way it will cut the amount of land donated for conservation. It has been a really important tool thats been used very effectively. We are certainly going to be very sad to see it go, says Camilla Herlevich, executive director of the North Carolina Coastal Land Trust.
Clearly losing the credit will mean the state will lose future land donations. Ruchos notion that lower taxes will inspire the grateful rich to turn over their land for preservation belongs on the shelf of failed ideas next to the trickle-down theory. Its not too late to save future open space. In its next session, the legislature should be conservative and reinstate the credit for land conservation.
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