2% Tax Cap for Land Assessments a Top Farm Bureau Priority
State Senator Patty Ritchie has announced final passage of legislation that would provide New York State farmers with relief from rising property taxes.
Under Senate Bill 1952, a 2 percent tax cap would be placed on annual agricultural land assessment increases.
"Land taxes are crushing farmers, threatening to drive many right out of business, and making it harder to keep generations-old farms in the family," said Senate Agriculture Chair Patty Ritchie.
"That's why I've sponsored and passed this bill two years in a row, and why the Senate made reform a key part of our "Grown in New York" agriculture plan this year."
The legislation—which has been a top priority for New York Farm Bureau—was prompted by an alarming increase in farmers’ property taxes in New York State, where the average property tax per farm acre of $26.21 is far higher than the national average of $6.75 per farm acre.
The bill was sent to the Governor.