Clear as Mud - Taxation of Wetland Mitigation Banks |
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Reprinted from Real Estate Taxation, 4th Quarter 2008 The nation's clean water laws do more than set water pollution standards. They also require mitigation for the effects of development of wetlands. The legal complexity of the available routes for doing so is as great as the environmental complexity of the effects of the development themselves. One of these routes involves a concept known as mitigation banking. In addition to an intricate compliance process, it involves the creation of interests that raise difficult and as yet unresolved questions of real estate taxation.
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