Assemblyman Angelo Santabarbara has announced that legislation he sponsored that would cap increases in base assessment values on agricultural properties at 2 percent each year has been signed by Governor Cuomo (Chap. 385 of 2013). The new law will prevent major hikes in property tax bills for New York’s farmers. Previously, farmers’ base assessment property value could not exceed ten percent.

“Today, we begin to rein in soaring property taxes for farmers,” Assemblyman Angelo Santabarbara said “By establishing a 2% cap on land assessments we help lessen the tax burden on farmers so that they can continue to grow and thrive.”

This new law will lower than annual assessment of over two percent, meaning that farmers will potentially save much more money on their property tax bills each year.

The new law will take effect immediately.