NETWORKER LETTERS and ARTICLES



Letters

Friday, May 18th , 2007

Hey, Vicky

Just wanted to thank you for putting together such a wonderful trail ride and lunch last Saturday! Along with the gorgeous weather you conjured up and the generous, friendly spirit of everyone we met, Roger & Lilly Gair, our friend Dr. Edyta Reyher, and I had a great time! (I hope your beautiful quarter horse has decided the trail is clear of those weird-looking, long eared-horses!) I had a chance to talk to your mom for a bit after the ride and wished I’d had more time to talk to both her and your dad. It was easy to see that between the two of them, there are lots of interesting stories to be heard and knowledge to be savored.

Here’s a snap of Josey from last summer, feeling very pleased with herself after knocking down the last of the four barrels in Roger & Lilly’s paddock. Mules have this wry sense of humor, see, and…

My best to you and yours

Timothy Pitt




Articles

All Landowners With GRTA Trails on Their Property May Be Eligible for 3 Different Tax Benefits !

If you grant a qualified Conservation Easement Riding Trail or Field to the GRTA, which is a 501(c)(3) organization, you could be eligible for the following 3 tax deductions:

* An immediate Federal Income Tax Deduction based on the value of the property after the easement area has been defined - as determined by a qualified appraiser. Any part of the deduction that cannot be used in the years of the grant of the easement can be carried forward for 5 years.

* An Estate Tax Exclusion of up to $500,000 from your gross estate over and above the current lifetime exclusion available to all estates under Code Section 2031(c).

* A Property Tax Deduction if the specified portion of your land , which you still own, qualifies as a conservation easement parcel by the Town Assessor's Office.

These are WIN WIN propositions for everyone since:

The landowner still owns the land and can:

* relocate the riding trail ( if it were specified as a "floating easement" ) to another qualified area on the property to make room for expansion (ei: pool, addition, etc).

* if subdividing the property, count the Conservation Easement Riding Trail or Field as part (or all) of the 15% requirement for "open Space " and gain the above tax benefits.

The town of Greenwich preserves a portion of its unique rural countryside.

The GRTA gains a permanent segment of our historic trail system.



For more information, contact your tax professional or call 203.869.8339 or email thegrta@thegrta.org.