Georgia Land Deserves $61 Million Tax Break, Partnership Says

The Internal Revenue Service is improperly discounting the value of preserving a 271-acre parcel of land in rural Georgia, a partnership said.

Georgia-based Hazel Hill LLC petitioned the US Tax Court after the IRS disallowed its $61.4 million charitable contribution tax deduction for donating a conservation easement on the undeveloped land in 2021. The partnership claims its value takes into account the potential for an aggregate mine to be developed on the property.

Aggrggate is crushed rock used in construction and the organization said it could see a market given real estate development trends in the region.

The dispute is ...