Taxation and Participation in Federal Easement Programs: Evidence from the 1992 Pilot Wetlands Reserve Program
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This paper argues that higher property taxes and uncertainty about post-easement tax levels create a disincentive for landowners to participate in federal conservation easement programs such as the Wetland Reserve Program. This hypothesis is supported by exploratory econometric analyses using state level data from the 1992 Wetlands Reserve Pilot Program. If this conjecture is supported by additional research, then such disincentives should be accounted for in the bid acceptance process of future Federal conservation easement programs, or other policies should be developed to reduce the effects of property tax differentials and posteasement tax uncertainty on enrollment decisions.