The governor has signed into law legislation co-sponsored by Assemblymember Harry Bronson (D-Rochester, Henrietta, Chili), a member of the Assembly Agriculture committee, which will reduce the property tax cap from 10 percent to 2 percent on annual agriculture assessment value increases (Ch.385 of 2013). This new law will help ease the property tax burden on local farmers, who already face challenges with price fluctuations and are dealing with the effects of a stalled farm bill.

“Agriculture is a key aspect of our economy; I am committed to making sure it continues to be a thriving business in New York,” Assemblymember Bronson said. “I have strongly advocated for decreasing the tax burden on agricultural properties and will continue to work for the betterment of our farms.”

Agricultural land assessments are dictated by a complicated formula that takes into account national production value statistics and soil type. Currently, New York farmers pay $38.41 per acre in property taxes – the second highest rate in the country, putting farmers at competitive disadvantage, noted Bronson.

Over the past seven years, the base assessment value for agricultural lands has nearly doubled, leading to skyrocketing property tax increases. This, coupled with increases in municipal and school taxes, has led to a difficult business climate for some farmers.