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the upper altamaha initiative:
fall 2006 Lee Carter, Beau Howell Our project has two essential goals - land protection and reaping the respective economic benefits from such protection. Peyton Ferry Farm is a common interest community located approximately six miles outside of Bowman, Georgia in Elbert County. The 260 acres has approximately one mile of Broad River frontage, including a beach and other recreational areas. The six stakeholders of the community individually own 10 acre parcels, and communally own 200 acres of common land. Though the stakeholders have chosen to implement conservation practices on their own prerogative, they wish to avail themselves of the tax benefits for their efforts. Sara Schatz, on behalf of Peyton Ferry Farm, requested assistance through the University of Georgia's Environmental Practicum program. Though this project is not directly related to the water quality issues addressed by the Upper Altamaha Initiative, the conservation attributes of the project will nevertheless prove beneficial and serve future educational purposes. The state of Georgia, as well as the federal government, offer incentives to encourage conservation use through various tax relief programs. The Georgia Uniform Conservation Act provides the opportunity to attain state income tax credits (that mirror federal tax credits), in addition to state ad valorem property tax relief. The state also offers tax relief under the Conservation Use Assessment Program, which provides ad valorem property tax relief. The Georgia Uniform Conservation Easement Act requires strict dedication to conservation goals by requiring the establishment of a permanent easement, granted to the government or a land trust, on the property. In contrast, the Conservation Use Assessment program only requires a 10 year dedication to conservation, with the opportunity to renew upon expiration. Though both programs offer the incentive of ad valorem tax reductions, income tax relief can only be realized through the establishment of a permanent conservation easement. The members of Peyton Ferry Farm will be presented with the two options, along with the respective benefits and consequences, to allow the stakeholders to make an informed decision of what program is most desirable. Once they decide on the program, we will be able to begin the procedural process, which will hopefully result in a significant tax benefit.
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