What is a Conservation Easement?
A conservation easement is a voluntary agreement that restricts land use on a property in perpetuity, in order to protect the agricultural, natural, or other conservation values associated with the property. The Greenbelt pays owners of agricultural or natural area property in return for placing this permanent conservation easement on their land. The conservation easement limits future development allowed on the property and preserves the agricultural value and open space value of the land. The value of the easement, aka "the development rights," is the difference between the value of the land based on its development potential and the value of the land after easement.
Market Value of the Property Before
— (Remaining Agriculture Value)
______________________________
= Value of the conservation easement
The owner may still sell or bequeath their land on the open market. The property remains in private ownership. The City of Ann Arbor conducts a yearly visit to ensure the terms of the easement are being upheld.
