7.4.8 Conservation Incentives

LPDD Recommendation: “Through tax deductions and tax credits, the federal government could provide significant incentives to corpora­tions and private individuals who manage forestland to sequester carbon.”

LPDD Recommendation: “Congress and state legislatures should consider a modest carbon tax or GHG cap-and-trade program that recognizes private forest carbon capture as an emission offset, exempts emissions from sustainably produced biomass, and also imposes a tax burden on those who deforest their land through conversion.”

LPDD Recommendation: “Congress should impose a meaningful carbon tax (or auction) and create a CO2 trading regime in which seques­tration in forests, soils, and forest products is specifically recognized.”

LPDD Recommendation: “Through tax deductions and tax credits, state and local governments could provide significant incentives to corporations and private individuals who manage forestland to sequester carbon.”

Michigan Qualified Forest Program

In exchange for executing an Affidavit attesting that their forestland will remain undeveloped, a landowner will receive certain reductions in their property taxes.

Kentucky Forest Stewardship Incentives Fund

Provides financial assistance to landowners for development of management plans and for practices including reforestation, afforestation, soil and water protection, wildlife habitat improvement and forest recreation.

Oregon Forest Resource Trust

Provides financial and technical assistance to qualified private and local government owners to plant trees and improve management of forestlands for timber production and environmental purposes.

Georgia Forest Land Protection Act

Private land used for “good faith subsistence or commercial production of trees, timber or other wood and wood fiber products” is exempt from property taxes.

Vermont Use Value Appraisal Program

Property taxes for forest lands are based on the value of the land in its current use, rather than market value, resulting in tax savings for the landowner of preserved forest.

Maine Tree Growth Tax Law

Property taxes for forest lands are based on the value of the land in its current use, rather than market value, resulting in tax savings for the landowner of forest.