Donate UT Real Estate to Charity
Donate Property / Commercial Real Estate / Land / Utah
Charity Property Donations - Good For All Involved!
Whether you are a snowbird with a summer home in Utah or if you own rental property in the state, you may be considering your options on how you can relieve yourself of costly property taxes and maintenance costs. If you own any type of Utah property, whether commercial or residential, you may donate Utah real estate to not only save you money, but possibly make you money as well.
Many people own large portfolios of real estate or they have a few real estate investments. Either way, there comes a time when the maintenance and upkeep of this property is just too much. Or, the property taxes rise, but you can’t raise rent enough to keep them covered. Either way, if you would like to donate Utah land or donate real estate to relieve yourself from this stress, you have a viable option.
One option that also has several benefits includes real estate donation to charities and organizations that assist charities in locating funding. This option provides you with two types of benefits that you might be interested in as well. When you donate land in Utah or make a Utah house donation, you are providing our community with a source of funding. Many organizations are able to put this property to use right away as office space, retail space or housing. Other organizations can sell this property and then use the funds from the real estate to pay for their expenses. This allows you to relieve yourself of the maintenance and property taxes involved with this real estate.
Tax Deduction Utah = Current Market Value
Additionally, when you donate land or donate real estate Utah, you are able to deduct the fair market value of that property from your Federal taxes. This can equal a substantial sum of money that you can put into your bank account. Or, if you are a snowbird and your summer home has a few more years of life in it, you may be able to do a Utah house donation that will pay you through a charitable gift annuity for years to come. Either way, you benefit the Utah community and you benefit your bank account.