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Article: LAND CONSERVATION CAUCUS ADDRESSES TAX CHANGES
- Article from:
- US Fed News Service, Including US State News
- Article date:
- November 6, 2009
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WASHINGTON, Nov. 5 -- Rep. Joseph R. Pitts, R-Pa. (16th CD), issued the following news release:
The House Land Conservation Caucus, which is co-chaired by Rep. Joe Pitts (PA-16), met yesterday to discuss how pending changes to tax law could harm conservation efforts. Modifications to the estate tax and failure to extend certain provisions could reduce landowners' incentive to hold back development on their property.
With increased land values, many family farms potentially fall under the penalties of the federal estate tax. Heirs who must pay the tax many times elect to sell property to pay the bill. Fractured farmland is quickly developed, changing the character of communities and reducing ...