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首页> 外文期刊>Journal of the Association of Environmental and Resource Economists >A Welfare Analysis of Conservation Easement Tax Credits
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A Welfare Analysis of Conservation Easement Tax Credits

机译：节约地税抵免的福利分析

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摘要

The use of conservation easements to protect vulnerable land is growing rapidly, but there is growing public concern about the social cost of easement tax credit programs that promote the use of easements. Landowners who agree to an easement sell or donate their development rights to a conservation agency and receive a tax credit on the “gifted” amount. The tax credit is intended to reduce underinvestment in land preservation by conservation agencies that operate with tight budgets. Using a model that combines asymmetric information and real options, this paper shows that the tax credit program is least effective for land with the highest environment value and, for a sufficiently high value, may decrease rather than increase the probability of an easement outcome. The failure of the conservation agency to internalize the land’s development value can result in the agency agreeing to accept a welfare-worsening donated easement.
机译：保护地役权保护脆弱土地的使用正在迅速增长，但是公众越来越关注促进地役权使用的地税税收抵免计划的社会成本。同意地役权的土地所有者出售或将其开发权捐赠给自然保护机构，并获得“赠予”金额的税收抵免。税收抵免旨在减少预算紧张的保护机构在土地保护方面的投资不足。使用结合了不对称信息和实物期权的模型，本文表明税收抵免计划对于环境价值最高的土地效果最低，而对于足够高的价值，税收抵免计划可能会降低而不是增加地役权的可能性。保护机构未能将土地的开发价值内部化，可能导致保护机构同意接受对福利要求更高的捐赠地役权。

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