Land Conservation Credit
On this page find information and instructions for claiming the Land Conservation Credit.
- Tax Credit Code: 124
Summary
This provides for an income tax credit for the qualified donation of real property that qualifies as conservation land. Property donated to increase building density levels or property that will be used or is associated with the playing of golf shall not be eligible. Taxpayers will be able to claim a credit against their state income tax liability not exceeding 25 percent of the fair market value of the property, or 25 percent of the difference between the fair market value and the amount paid to the donor if the donation is effected by a sale for less than fair market value, up to a maximum credit of $250,000 per individual, and $500,000 per corporation, and $500,000 per partnership. However, the partners of the partnership are subject to the per individual and per corporation limits. The amount of the credit used in any one year may not exceed the taxpayer’s income tax liability for that taxable year. Any unused portion of the credit may be carried forward for ten succeeding years. For taxable years beginning on or after January 1, 2025, any credits generated but not used may be carried forward for five years. The Georgia Department of Natural Resources will certify that such donated property is suitable for conservation purposes. Please note that the Georgia Department of Natural Resources cannot accept new applications after December 31, 2026. A copy of this certificate must be filed with the taxpayer’s tax return in order to claim the credit.
How to Claim this Credit
This credit should be claimed on Form IT-CONSV. The taxpayer beginning January 1, 2012, has the option of selling the credit to a Georgia Taxpayer. For more information, refer to O.C.G.A. §48-7-29.12 and Regulation 560-7-8-.50. For donations in taxable years beginning on or after January 1, 2013, to claim the credit, Form IT-CONSV, the DNR certification, the State Property Commission’s determination, and the appraisal must be attached to the income tax return; and the taxpayer must add back to Georgia taxable income the amount of any Federal charitable contribution related to the Georgia conservation credit. For donations made on or after June 1, 2022, the aggregate amount of tax credits shall not exceed $4 million per calendar year and the taxpayer must request preapproval.
Information
Conservation Use Assessment Information
Forms
Form IT-CONSV Conservation Tax Credit
Relevant Links
Revenue Regulation 560-7-8-.50