Western New York farmers have saved $1,236,972 over the past to years as a result of the state’s Agricultural Land Assessment Cap.
The savings is part of the $23 million saved statewide over the two-year period. Signed into law in 2013, the cap prevents agricultural assessments from being increased by more than two percent per year. The previous cap was set at 10 percent.
“Agriculture remains a key driver in New York’s economy, and this administration is committed to helping ensure its strength and vitality,” Gov. Andrew Cuomo said. “By providing much-need property tax relief to our farmers, we are lowering the cost of doing business and driving growth in this vital industry for years to come.”
For more information on the agricultural assessment program, including applications and instructions, visit the NYS Tax Department’s website.
All WNY is made possible thanks to coffee and sleep deprivation.
We appreciate your readership. We like money, too.
