Land Preservation Tax Credit

Photo: Mike Zorger

The Land Preservation Tax Credit (LPTC) program is enabled by the Virginia Land Conservation Incentives Act. Through this program, Virginia allows an income tax credit for 40% of the value of donated land or conservation easements. Taxpayers may use up to $50,000 per year. Tax credits may be carried forward for up to 10 years after the year of donation. Unused credits may be sold, allowing individuals with little or no Virginia income tax burden to take advantage of this benefit.

• Conveyed for the purpose of agricultural and forestal use, open space, natural resource, and/or biodiversity conservation, or land, agricultural, watershed and/or historic preservation, and
• An unconditional donation by the landowner/taxpayer to a public or private conservation agency eligible to hold such land and interests therein for conservation or preservation purposes.

DCR is responsible for verifying the conservation value of LPTC donations of land or conservation easements for which the donor claims a state tax credit of $1 million or more. These applicants must meet the Conservation Value Review Criteria adopted by the Virginia Land Conservation Foundation Board (VLCF). Donors claiming less than $1 million in tax credits should apply directly to the Virginia Department of Taxation (TAX).

To apply for LPTC credits, review the procedural guidelines and information on TAX's website. Also, please review this helpful guide on how to fill out a land preservation tax credit application.

Required tax forms can be downloaded from TAX’s Forms webpage and include:

• LPC-1 Form for Application of Land Preservation Tax Credits
• LPC-1 Instructions
• LPC-1 Schedule B and Instructions
• LPC-1 Schedule C and Instructions
• LPC-2 Form for Transfer of Land Preservation Tax Credits
• LPC-2 Instructions

• This flier provides a summary fo the Land Preservation Tax Credit information on this website.

Land Preservation Tax Credit Conservation Value Summaries

• 2022 Land Preservation Tax Credit Conservation Value Summary
• 2021 Land Preservation Tax Credit Conservation Value Summary
• 2020 Land Preservation Tax Credit Conservation Value Summary
• 2019 Land Preservation Tax Credit Conservation Value Summary
• 2018 Land Preservation Tax Credit Conservation Value Summary

For information about DCR’s review of Land Preservation Tax Credit applications, call 804-371-5218 or email suzan.bulbulkaya@dcr.virginia.gov.