5 ms·
A conservation easement is not a payment. Sweeney didn't actually pay $15 million. He just gave up the right to develop on a piece of land he wasn't ever going
by divyekapoor 10y ago
A conservation easement is not a payment.
Sweeney didn't actually pay $15 million. He just gave up the right to develop on a piece of land he wasn't ever going to develop on anyway. This gives him a $15 million tax deduction over several years that he can use to offset his tax liabilities. Since he donated $15 million worth of property rights, he probably has a lot of them.
Not very different from Trump's conservation easement donation in New York.
- deleted 10y ago[deleted]
- iamcreasy 10y agoWhat is your source? The article explicitly says 'Epic Games founder Tim Sweeney has reportedly paid $15 million to the U.S. Fish and Wildlife Service to permanently protect 7,000 acres of undeveloped land'.
- notlisted 10y agoI guess it works like this - http://www.wsj.com/articles/donald-trumps-land-donations-put-him-in-line-for-conservation-tax-breaks-1457656717 http://www.wsj.com/articles/donald-trumps-land-donations-put...
- refurb 10y agoSweeney didn't actually pay $15 million. He just gave up the right to develop on a piece of land he wasn't ever going to develop on anyway. That's an odd way to look at it. Let's say I donate a car that's worth $10,000. I never plan on driving it again. Does that mean it's not worth $10,000?
- touristtam 10y agoThat s the whole issue with market economie: everything has potentially a price tag.
- refurb 10y agoThat's an issue? A price is just a value on something. It's wrong that things have value?