December 11, 1983

OWNERS of properties of ecological or historical significance are often eligible for substantial tax savings if they donate an easement to a recognized preservation or conservation group. Such easements insure perpetual preservation of the integrity of the land or the facade of the building regardless of future ownership, with the conservation or preservation group acting as guardian. It is unlikely, for instance, that future owners could destroy the beauty of land carrying a conservation easement by building on it. And no one purchasing a historic house with an easement on its facade could realistically expect to construct an addition or alter the shape of the windows.

Tense Ending toA Space Story The space shuttle Columbia and its international cargo of scientific gold came home last week - a little late, but worth the wait. It will probably take a long time for scientists to digest all the experiments performed in the piggy-backing Spacelab, and for astronauts to forget the gut- wrenching jolt that triggered the landing delay.

Administration officials say they expect President Reagan's new budget to include a cut of about $8 billion in nonmilitary domestic spending, plus reductions of about $4 billion in Medicare and other benefit programs. The officials, who are preparing the final version of the election-year budget, also say they expect Mr. Reagan to resubmit his contingency tax-increase proposal. Most of the decisions on nonmilitary domestic spending have been made, they said, and there is a general agreement on the cuts in the individual-benefit programs. The officials also acknowledged that the proposed spending total in the fiscal year 1985 was expected to be more than $918 billion, which was the target for the 1985 budget set earlier this year. In the fiscal year 1984, which began Oct. 1, spending, based on Congressional action so far, is expected to be about $850 billion.

Raul Ricardo Alfonsin was inaugurated President of Argentina today amid joyous celebrations that ended nearly eight years of military rule. More than 100,000 Argentines poured into the streets to cheer the 56-year-old political moderate as a sense of hope gripped this long-tumultuous country. Waving flags and wearing white berets, a symbol of Mr. Alfonsin's Radical Party, the crowds rained confetti on him as he traveled in a 1950's Cadillac convertible from the swearing in at the Congress to the Pink House, the presidential palace. Columns of cavalry marched by his side.

Among the standard one- and two-bedroom townhouses in Glen River, a condominium community now under construction on River Road in Wilton, Conn., are units designed to suit the needs of handicapped occupants. These special dwellings are all one- level homes and meet Federal standards for the handicapped.