Donate OR Real Estate to Charity
Donate Property / Commercial Real Estate / Land / Oregon
Charity Property Donations Oregon
The state of Oregon is growing more and more each year. In 2015, the state saw an increase in the population by an estimated 50,000 people, or 1.1% increase from 2014. With the ever growing population also comes an ever growing need for charitable contributions to charities and non-profit organizations in those areas. The growing population also means that there are more and more people for these organizations to help and provide assistance to. This is where an Oregon property donation plays a vital role in the state.
There are various regions of Oregon that are unique in what they offer the community. Around Portland, you will find that an Oregon house donation may be needed most due to the number of homeless families in the city. At the same time, with the rural areas of Oregon comes land contracts and raw land. Through an Oregon land donation, there are various benefits that are provided to thousands that need a helping hand. This land can be developed and turned into homes for families or offices and buildings for use by non-profit organizations. No matter what type of real estate donation that takes place in Oregon, the land or building can be used in some aspect.
Oregon Tax Deduction = Current Market Value
Along with the fact that you know you’ve done something to help your community, owners of Oregon property can receive great tax benefits through their donations. For instance, when an Oregon person donates property they are able to receive a tax deduction on their Federal taxes. Depending on the value of the land, they are able to claim a full tax deduction for the Current market value of the property. This is the value of the property now and not what the value was when the property was purchased. If real estate in the area has appreciated, this can be a grand tax deduction.
Additionally, if the real estate is particularly large or if the family wants to continue enjoying it until they pass, they are able to donate the land to charity and possibly receive a charitable gift annuity instead of the deduction. This also allows for great savings and benefits for a family financially after the property owner has passed.