| , leaving families to decide what
retirement will bring, and whether or not the next
generation can afford to keep the land in its current
use. Inheritance taxes alone can drive the common
land-rich, cash-poor rancher to fragment land and sell to
development, just to pay the bills.
According to the 2002 Census of Agriculture, more than
111 million acres of land in farms in the Rocky Mountain region
are managed by operators 55 years old and older.
Land is most vulnerable to development pressures when it
passes from one owner to the next, even within a family.
One of the greatest pressures in the transition process that pushes the land
into development is estate taxes. Ranchers who don't plan for this run into
great financial challenges when it comes time to pass on the ranch. Ranchers are
usually land-rich and cash-poor so there is not enough cash in the estate at
transfer time to pay the taxes, thats when the developers come knocking with their
quick cash out plans.
Farm transition and estate planning are private ways that
farmers and ranchers can protect their land—often with the
use of agricultural conservation easements.
Agricultural conservation easements put the
market's shoulder to work for ranchers by capturing the economic value
of conservation, while allowing ranching to maintain its traditional
economic and cultural roles in western communities.
Check out some articles
Saving ranchlands doesn’t mean saving the rancher
Over the next decade, more than half the ranches in the region will change
hands, as an aging population of ranchers sells to newcomers or passes their
lands on to heirs who are more interested in the land’s monetary value than in
continuing an economically challenged tradition. Read More »
Who will take over the ranch?
Private land of the West is being transformed before our eyes.
A lot of the best, most productive land in the West are the private lands
Read More »
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