Conservation easements are an extremely popular method for those who can afford it to receive a tax right off. IRS code allows someone to purchase a property for say 100,000; you then have to hold onto the property for one year at which time if the land has a higher value say as a commercial development (perhaps it has lake view lots or something of that matter) you have the ability to have the land appraised and the come up with what the actual land could be worth (say 500,000) if truly developed into a subdivision.

You are then allowed to take the difference in what appraised value and what you paid for it (400,000 in this example) and submit a easement plan—if approved you can write the 400,000 dollars off your taxes over a 15 year period on up to half our of your yearly income. Basically it’s a really nice tax shelter but you have to spend a good bit up front hiring proper appraisers and getting your development plan to meet standard.

But yes after the property is eased you cannot develop it and it must be basically left in its current condition other than for something like hunting. However you have a nice tax write off and still have your hunting property. Win win in my opinion.