Hoosick Grange met on Wednesday, March 25. A delicious covered dish supper was served before the meeting. The Lecturer introduced the speaker for the evening. Teri Ptacek from the A.S.A., Agricultural Stewardship Association. The A.S.A has been in business for 18 years. They work along with NYS Agriculture and Markets and Cornell Extension. They have 3 to 4 lawyers working on these trusts and have 4 to 5 staff members. They also have 12 Board members and at least half are farmers. As of now there is a budget freeze because of the economy. As of the year 2000 they have 10 projects. Eight are in Rensselaer County.
A Land Trust is a conservation easement. You should have good quality land (soil), natural resources like timber, mining and etc. When you have a conserva-tion easement, the developing rites are gone, and you have deed restrictions. Teri had maps of different properties, the types of soil and the properties that have been approved. The property is appraised for market value against the agricultural value. The difference between the two is the value of the easement. This is the I.R.S. value of the easement that you will be taxed on. The easements are very flexible – you still own the land, pay taxes on it and can sell it for agricultural use. You can’t use the farm for anything but agricultural use. You can only put up new buildings around the homestead area. Why would you like a conservation easement and giving up equity? Because you believe in the future of agriculture. Teri had a question and answer time. She answered many questions and had time for them to look at the maps. The Lecturer thanked Teri for a very informational program.
Our next meeting is on Wednesday, April 8, at 8 pm. Louise Slingerland is Program Chairperson. The topic is Different Types of Barns. David Cornell is in charge of the refreshments.