Schedule B (Form Lpc-1) - Statement By The Recipient With Respect To Tax Credits Of E Million Or More From A Donation Made On Or After 1/1/07 Of Less-Than-Fee Interest In Land
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8Schedule B
*VALPCB108888*
Application for a Land Preservation Credit
Form LPC-1
Statement by the Recipient With Respect
to Tax Credits of $1 Million or More From
a Donation Made on or After 1/1/07 of
Less-Than-Fee Interest in Land
Applicant Name
SSN or FEIN
Section I - Detailed Description of Conservation Purpose
To qualify for tax credits, applicant’s donation must be conveyed for at least one of the following purposes. For any conservation purpose(s) listed in this
section, check all applicable boxes and attach documentation to support the selected purpose.
A). Agricultural Use:
The property must contain a land area of five contiguous acres or more devoted to production for sale of plants
and animals, or land devoted to a soil conservation program under an agreement with an agency of the federal
Check Applicable Boxes
government.
The conservation purpose for this category will be satisfied if at least one of the first three choices is selected.
Alternatively, the conservation purpose may be met by satisfying #4.
1.
The property has been designated by a county, city, or town as real estate devoted to agricultural use or real
estate devoted to horticultural use for purposes of use value assessment and taxation.
2.
The property is part of an agricultural or agricultural and forestal district.
3.
The property has been designated by the governing body of any county, city or town, with the cooperation of the
United States Department of Agriculture, as important farmland within its jurisdiction.
4.
If the property does not meet any of the three conditions above, describe the conservation value of the land for agricultural purposes. Attach
supporting documentation.
Forestal Use:
B)
The property must contain a land area of at least 20 contiguous acres used for tree growth and maintained as a forest
area from which livestock is excluded. The land must contain existing, well distributed, and commercially valuable
trees, or it has trees but is not capable of growing a commercial timber crop because of inaccessibility or adverse site
Check Applicable Boxes
conditions. Land used for tree growth that has been recently harvested of merchantable timber, is regenerating into a
new forest, and has not been developed for non-forest use will qualify.
The conservation purpose for this category will be met if at least one of the first four choices is satisfied. Alternatively,
the conservation purpose may be met by satisfying #5.
1.
The property has been designated by a county, city, or town as real estate devoted to forestal use for purposes of
use value assessment and taxation.
2.
The property is part of a forestal or agricultural and forestal district.
3.
The property contains 20 acres or more of forest area that is adjacent to lands owned or managed by the United
States Forest Service or the Virginia Department of Forestry.
Name and location of state or federal lands:
4.
The property contains less than 20 acres of forest area, provided that the land has greater than 50% canopy coverage
and has been certified by the State Forester in consultation with the local city or county arborist, if such a position
exists within the locality, as important to the establishment and preservation of urban forests.
5.
If the property does not meet any of the three conditions above, describe the conservation value of the land for forestal purposes. Attach
supporting documentation.
1
Va. Dept. of Taxation LPC-1 W (Rev 8/08)
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