New law caps agriculture assessments, protecting farms from tax hikes
Senator George Maziarz (R-C, Newfane) is very pleased to announce that legislation (S.1952 of 2013) he co-sponsored to limit the annual increase in agricultural assessments to 2% has been signed into law by Governor Andrew Cuomo.
“This new law helps control assessments and therefore property taxes,” Senator Maziarz said. “We are striving to make it easier to keep farms in operation, and we can do that by preventing them from drowning in a tidal wave of new taxes.”
“Farming is a land-intensive business, and it is critical to our state’s economy and to our communities,” Senator Maziarz said. “We cannot afford to tax our farms out of business.”
The measure, previously approved by the Senate in 2012, was strongly supported by the New York Farm Bureau. It was passed unanimously by the both chambers of the State Legislature this year.
The new law takes effect immediately.