Riparian Buffer Tax Credit
Introduction | Buffer Valuation | Frequently Asked | How To Qualify | How To Apply | Required Documents | Required Information | Hardcopy Map Requirements | Review Process | Code of Virginia
Introduction
Wooded buffers along streams, rivers and the Chesapeake Bay are called riparian forests and help protect our water quality. Virginia landowners can receive a tax credit for preserving riparian forest buffers along waterways during a timber harvest operation.
Riparian Buffer Tax Credit Application (English; Word format).
Overview
The 2000 Virginia General Assembly enacted the Riparian Buffer Tax Credit to provide a nonrefundable tax credit to:
- Individuals, S-Corporations or Partnerships; Estates and Trusts are not eligible for this tax credit, but Family Partnerships and Limited Liability Corporations are eligible.
- owning land on which timber is harvested,
- which abuts a waterway,
- and who forbears timber harvesting on certain portions of the land for 15 consecutive years.
The amount of the credit is equal to 25% of the value of the timber retained as a buffer up to $17,500. The buffer must be at least 35 feet wide and no more than 300 feet and be intact for 15 years. The applicant must have a Stewardship Plan for the tract to qualify. A separate application must be completed for each tract.
Last modified: Monday, 19-Oct-2009 15:59:34 EDT
