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Colorado Conservation Easement Tax Credit Program
Frequently Asked Questions
How much can I really save on my state taxes?
15% of what you would otherwise pay, excluding any additional expenses resulting from work by your advisors.
How does Colorado Conservation Trust save me money?
Typically, tax credit buyers pay 90% of the value of a tax credit, saving 10% on state income taxes. By working with CCT, you pay 85% of the value, saving an additional 5% - which can mean up to $5,000 on $100,000 in credits or $25,000 for $500,000 in credits. Through its relationship with the Conservation Resource Center - the major broker of these credits - CCT will receive the best rate for tax credit buyers.
What is CCT’s role?
- CCT saves buyers 5% more on their taxes.
- CCT can help buyers reinvest their savings into land conservation projects around the state.
What is the maximum number of credits I can purchase?
There is no cap on how many credits a tax credit buyer can purchase. A buyer can offset his or her entire 2004 Colorado state income tax obligation by purchasing conservation tax credits. Any credits not used can be applied to offset the following year’s state taxes.
If I want to save on my 2004 taxes, when should I sign up?
There is a limited number of tax credits left to purchase this year. Buyers are accommodated on a first-come, first-served basis. By sending in the enclosed buyer intent form today, you hold a spot for yourself in line. It is advisable to secure your spot by early November.
Do I legally obligate myself to purchasing credits by sending in the buyer intent form?
No. Filling out and signing the buyer intent form does not lock you into purchasing credits. You do, however, reserve credits for your use. The Conservation Resource Center, the broker with whom CCT works, would like to know potential buyers by mid-November to ensure that all sellers are matched with buyers.
How often can I purchase tax credits?
Colorado taxpayers are eligible to buy tax credits once per year.
What is a real life example of how this program works for a landowner?
Drought and lack of feed had forced the owners of the Kruetzer Ranch to sell their entire herd. The situation was so dire that they considered leaving the ranching business. But CCT helped them find a buyer for the conservation tax credits they received for an easement placed on a portion of their ranch, which allowed them to buy both cattle and irrigated land where they could grow feed. Over the next few years, the family plans to donate the development rights to the rest of their ranch, sell the tax credits and use the money earned to gradually rebuild their ranching operation.
How can I support the Colorado Conservation Trust?
CCT works to unite funding sources, conservation groups and technical expertise to make the greatest possible impact on Colorado conservation. Our goal is to help conserve two million acres of land in the next decade. If you wish to support our efforts, please consider donating all or part of your tax credit savings back to CCT. Because of the deductibility of a gift to CCT, you can donate all your savings and still come out ahead. And, over 95% of contributions to CCT are invested directly into land conservation projects and programs. More information about how your funds would be used can be provided upon request.
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