Help in Protecting Property The 1997 tax law relieves the pressure on heirs to sell land to developers in order to pay estate taxes. As of Jan. 1, the new law: -- Cuts estate taxes by up to 40% on land that's left undeveloped by placing it under conservation easements, allowing limited agriculture and forestry but no new building -- Gives heirs nine months after an owner's death to enact conservation easements -- Requires eligible land to be within 25 miles of a national park or metropolitan statistical area to encourage buffer zones -- Increases the maximum asset value that can be exempted from estate tax from $600,000 to $1 million by 2006--including land, protected or not Return to main story

Updated Jan. 8, 1998 by bwwebmaster
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