Pdr

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Disposition of Development Rights

There are a number of governmental and charitable programs for the purchase of development rights. In these programs, farm owners sell their development rights by placing a perpetual easement on the land restricting the rights of current and future owners to develop the land. When development rights are sold for less than the reduction in fair value resulting from restricting development on the land, a charitable income tax deduction may be available.

Land-Preservation Program Experiences Growing Pains

A land-preservation program in Central Kentucky is experiencing some growing pains. In April, the first group of landowners signed agreements to take $4.5 million in exchange for placing 1,572 acres into conservation easements as part of the purchase of development rights (PDR) program.

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