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History
- Referred to agriculture
- Referred to agriculture
Full text
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Sponsor's memo
Title of bill
An act to amend the agriculture and markets law and the real property tax law, in relation to property tax exemption for on-farm structures that provide added value to farm products
Purpose
This bill would include within the ten year property tax exemption for agriculture buildings those on-farm structures that are used by a farm to add value to farm products.
Summary of provisions
Section 301 of the Agriculture and Markets Law and Section 483 of the Real Property Tax Law is amended to include land and structures used for processing or retail merchandising of crops and/or livestock products from such land in the agriculture buildings exemption.
Justification
Family farms are continually exploring new ways to obtain a better return for their product while meeting consumer demand. At the same time, there is a growing recognition by consumers about the economic and environmental benefits that can occur by directly supporting local agriculture. These two trends have led to a large number of farms adding value to their farm products through on-farm processing and direct to consumer sales. Whether it be farm marketing to consumers or turning grapes into award-winning New York wines, farmers are using these new business projects to meet consumer demand. Unfortunately, the expansion required to provide value-added services can often be quite costly. This cost is compounded by dramatic yearly property taxes. By providing structures housing valued-added aspects of a farm business with a ten year real property tax exemption, farmers will be in a better position to expand into a value-added initiative, making their farms more economically sustainable.
Legislative history
S.5678 (2007/08)
Fiscal implications
None to the state. Since the bill only covers the value of new farm construction, there would be no negative impact on local revenues.
Effective date
Effective immediately and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.