LPC-1: Application for a Land Preservation Tax Credit (2025)
Virginia · Virginia Tax · Used for tax years 2025
Form LPC-1 is an application for a Virginia Land Preservation Credit. It reports the donated property or interest in property, appraisal values, credit amount requested, and the donation’s conservation purposes and public benefits. Acceptance of the application does not constitut
Who files this form
Form LPC-1 is the application for a Virginia Land Preservation Credit for a donation of land or an interest in land. Applicant types listed on the form include individuals, married donors, multiple donors, trusts or estates, pass-through entities, corporations, nonprofits, and other entities.
For donations made on or after January 1, 2007, the form says you do not qualify if:
- You are a nonprofit easement holder as defined in Virginia Code § 10.1-1009 and hold another conservation easement acquired under the authority in § 10.1-1010.
- You applied for a Historic Rehabilitation Credit on the property or building within the last 5 years.
When it's due
The tax year 2025 version gives these filing rules, based on when the land or interest in land was conveyed:
- Conveyed on or after January 1, 2020: File a complete Form LPC-1 on or before December 31 of the second year following the calendar year of the conveyance.
- Conveyed before January 1, 2020: File a complete Form LPC-1 on or before December 31 of the third year following the calendar year of the conveyance.
To avoid delays in processing your annual return, the form recommends filing the application within 90 days of the donation, but at least 90 days before filing your annual return. Applications for credits of $1 million or more should be submitted at least 120 days before filing an annual return.
What you'll need
The form's enclosure checklist lists these items for the Virginia Department of Taxation for all donations:
- Original LPC application.
- Recorded deed.
- Copy of the full appraisal.
- IRS Form 8283.
- Signed statement or affidavit from the appraiser.
- Baseline documentation.
For the Department of Conservation & Recreation (DCR), the checklist lists a copy of the LPC application, IRS Form 8283, and the recorded deed for all donations made in 2007 or later. It also lists baseline documentation for donations of $1 million or more made in 2007 or later.
You will also need applicant identification and contact information, property and recording details, appraisal information, the credit amount requested, and conservation information.
Additional items may apply:
- For a fee-simple gift to a public or private conservation agency, complete Schedule C if the application is for $1 million or more.
- For a fee-simple gift to a qualifying holder under Section V-B, include documentation of the agency's agreement about restrictions on subsequent conveyances.
- For a less-than-fee-simple donation, explain how it meets Internal Revenue Code § 170(h). Add pages if needed.
How to file
Complete the applicable sections and gather the required enclosures. Sign the application in the presence of a notary.
Mail the form, enclosures, and payment, if applicable, to:
Virginia Department of Taxation
Tax Credit Unit
P.O. Box 715
Richmond, VA 23218-0715
Also send a copy of the form and specified enclosures to:
Department of Conservation & Recreation
Tax Credit Program
600 East Main Street, 24th Floor
Richmond, VA 23219
For general assistance, call (804) 786-2992. For assistance with Sections IV and V and Schedules B and C, call (804) 371-5218.
Common mistakes
- Treating receipt as approval. The Department of Taxation's acknowledgment or acceptance does not certify, approve, or validate the donation or credit valuation.
- Waiting too close to filing your annual return. Follow the form's advance-filing recommendations to avoid processing delays.
- Signing before meeting with the notary. The form says signatures must be made in the notary's presence.
- Using a P.O. box for the property address. Section III requires the property's street address, not a P.O. box.
- Skipping the instructions. The form directs applicants to read the instructions before completing Form LPC-1.
Questions people ask
Does acknowledgment of my application mean the credit is approved?
No. Receipt or acceptance does not constitute certification, approval, or validation of the donation or credit valuation.
Can an earlier credit involving the property affect this application?
Yes. For donations made on or after January 1, 2007, the form asks whether you, a family member, or an affiliate received a credit for a donation on any portion of the parcel within the past 11 years. If yes, provide the LP number. DCR verification may be required.
What if another credit involved land formerly part of the same parcel?
For donations made on or after July 1, 2010, an application for $250,000 or more asks whether a credit was applied for or issued within the past 3 years for land formerly part of the same parcel. If yes, provide the LP number. DCR verification may be required.
What donation types does the form list?
Section III lists fee simple, less-than-fee simple, and facade donations. It also asks whether the transaction was a bargain sale and, if so, the amount received.