Landowners grant conservation easements to restrict development and protect resources while retaining the rights of private ownership.

A conservation easement is a voluntary agreement a willing landowner makes to permanently restrict the type and amount of development that may take place on his or her property in the future. Landowners grant conservation easements to protect their land from inappropriate development while retaining the rights of private ownership. The conservation easement does not necessarily exclude all development, but may restrict any development that would be harmful to the public benefits the easement seeks to protect.

The landowner continues to own the property; he or she may sell it, live on it, use it, or leave it to heirs, but the agreed-upon restrictions remain with the land forever. The Land Trust accepts the responsibility for the regulation of the easement agreement, however, the property remains in the owner's hands and on the county property tax roles. Granting of a conservation easement does not mean that the landowner must grant public access to his or her property.

Conservation easements can result in income tax and estate tax benefits, if the land qualifies under IRS criteria. For example, the IRS will consider land that is in active agricultural use and meets local governmental land-use policies in support of agriculture. The IRS also considers tax benefits for easement donations that conserve scenic open space, wildlife habitat, and land that provides public access for recreation or education, and/or historic site preservation. While the tax benefits are helpful, many people have found the greatest satisfaction in working with Land Trusts is the assurance that the land they cherish will always be protected.

The Teton Regional Land Trust cannot warrant that a tax benefit will arise from donation of a conservation easement, and does not provide an estimate of potential tax benefits. Trained, professional appraisers perform calculations of donation value. Landowners are cautioned to consult with their legal and financial advisors.