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A landowner who donates a perpetual easement to the State of South Carolina under the Scenic Rivers Program (Title 49, Chapter 29) is entitled to a credit against state income tax. The credit allowed is equal to the fair market value of the easement granted, meaning the difference between the fair market value of the property before the easement and the fair market value of the property after the easement. Land subject to a permanent easement becomes exempt from all property taxes. A donor of land in fee simple is entitled to a credit against state income tax equal to the value of the fee donated. For both donations in fee simple or easement, the donor may elect to take the deduction during a five-year period following the donation. The total deduction may be taken during any one year of the five-year period or the deduction may be taken in proportionate amounts during the five-year period. The value of the fee or easement must be assessed at the time of the donation.
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