Get that property tax burden off of your financial back and get a tax deduction for doing it. Donate unused real estate to charity. Although the deduction is nice for you, the gift to your favorite charity can go a very long way. Here are a few ways that charities can use a real estate gift.
If nothing else can be done with it, the charity can always turn around and sell the property. Whether the real estate is just land, or whether there is a building on the site, your favorite non-profit might benefit most from the cash they would receive by selling it. If the property is strategically placed, it could be something the organization could actually use.
If your real estate is located in a community where the charity would like to establish an office or location, they might want to use it for that reason. Through grants and donations, they will likely get the restoration financed. Other people in the community, who also love that charity, will be happy to join your cause and help make your gift even more valuable. Truthfully, if you’re donating real estate at all, it probably isn’t that valuable to begin with. Therefore cities like it when it is given to an organization that will restore it and improve it’s resale value. That translates to future property tax dollars for the city. Of course, non-profits don’t pay property taxes, but they do use utilities, create jobs and buy goods and supplies. If they feel their services are needed in a town, then it’s highly likely that the town people agree.
Along with job growth through the non-profit, the restoration work on your old real estate will help increase construction jobs. Therefore, your generosity will actually help many more people than you may have originally thought it would. In that case everybody wins, and you’ll be a local hero.