Editing Little Compton, Rhode Island (section)

== Agricultural Conservancy Trust ==
[[File:Almy Creek 2023.jpg|thumb|Almy Creek became Agricultural Conservancy Trust property in 2021]]
Little Compton is unique for its real estate transfer tax, which was enabled by state statute in 1985 to preserve farmland in town and protect limited drinking water resources from overdevelopment.<ref>[http://lcact.net/about-us/how-we-are-financed/ Little Compton Agricultural Conservancy Trust: History, Structure and How We Are Financed]</ref>  Effective July 1, 2016, real estate property transfers are taxed at a 4% rate, with the first $300,000 is exempted, paid by the buyer in the transaction to the town's Agricultural Conservancy Trust. As of 2021, the Ag Trust has preserved 2,162 acres of land, more than 671 acres of that owned outright by the Ag Trust, with 133 acres of that leased to local farmers.<ref>[http://www.lcact.net Little Compton Agricultural Conservancy Trust website]</ref>

[[Easement|Easements]] are emplaced on Agricultural Conservancy Trust property which allows public access on preserved land in the form of maintained [[Footpath|public rights-of-way]]; this is a unique practice that is not often seen in the United States and is more commonly associated with [[Rights of way in England and Wales|English Law]].<ref>"AN ACT Establishing the Little Compton Agricultural Conservancy Trust." 85-S954 Introduced April 14, 1985. JANUARY SESSION, 1985. https://lcact.net/wp-content/uploads/2022/08/lcact-enabling-legislation.pdf</ref>