Places Two Percent Cap on Annual Agricultural Land Assessment Increases
State Senator Patty Ritchie has announced that her bill to help provide New York State Farmers with relief from rising property taxes has been signed into law by Governor Andrew Cuomo.
Under Senate Bill 1952, a two percent cap would be placed on annual agricultural land assessment increases.
“It goes without saying that farming is a land intensive business, with one of the main costs for farmers being taxes on the land they utilize,” said Senate Agriculture Chair Patty Ritchie.
“By enacting this two percent cap, we are providing our hardworking farmers—whether they’re just starting out or continuing a generations-old family tradition—with the relief they need to continue to grow not only their businesses, but also New York’s biggest industry as a whole.”
The legislation was prompted by an alarming increase in ag value assessments in New York State. According to the New York Farm Bureau, the average property tax per farm acre of $38.41 is far higher than the national average of $12.34 per farm acre.
The property tax relief legislation is only the latest effort by Senator Ritchie to support New York’s farmers.
Recently, she sponsored the Food Metrics Bill, an innovative new plan to connect state prisons, hospitals and agencies directly with New York farmers to boost purchases of locally produced foods, bringing better nutrition and boosting farmers’ bottom lines. The bill passed both the Senate and Assembly.
In addition, Senator Ritchie has also been working diligently in the past several years to increase funding for agriculture programs and cut taxes and red tape to encourage growth in the industry.