Ferrucci & Walicki - TaxReduction

Property Tax Reduction

Significant property tax reductions are available for many owners of forestland and open space. Several states have programs intended to reduce the loss of forests by reducing the tax burden on landowners who choose not to develop their forests.

F&W has worked extensively with private landowners and utility companies to enroll hundreds of properties in tax reduction programs such as Connecticut PA-490, New York Section 480-a, and Massachusetts Chapter 61 and 61B. Many local open space regulations can also reduce tax burdens, even if a property does not meet forestland specifications.

Our staff’s experience also includes work with sales and donations of conservation easements, which have been used by many landowners to maintain ownership of their land while also receiving large tax benefits.