PALMESANO: 2% CAP ON AGRICULTURAL LAND TAXES IS MAJOR VICTORY FOR FAMILY FARMS Assemblyman Phil Palmesano (R,C,I-Corning), along with a bi-partisan coalition of lawmakers, the New York Farm Bureau and family farms across New York State breathed a sigh of relief with the passage of Assembly Bill A.165. The bill caps the agricultural property tax assessment at 2 percent. Skyrocketing land assessments have forced the cost of farmland tax bills to unmanageable levels. New York farmers’ property taxes had reached the second highest in the nation in recent years at $38.41 per acre, more than $25 per acre higher than the national average. This cost amounted to 15 percent of New York farmers’ net income being consumed by property taxes; as a percent of income this was the highest in the nation. “The passage of this bill comes at a crucial time for our state’s farmers, who have been carrying far too large a tax burden,” said Palmesano. “Capping the agricultural assessment at 2 percent will provide much needed relief to our farmers and help ensure the survival of an industry that is vital to our state’s economy. I was very pleased that so many of my colleagues on both sides of the aisle supported this bill. I’m sure the Senate will move quickly to approve the measure and send it to the governor to sign into law.” In the past ten years, New York’s farmers have seen their property taxes essentially double. Additionally, the increase in taxes has coincided with pronounced increases to the cost of essential materials such as fuel and feed, as well as increases to labor and health care costs. These various increases dramatically lower the farmers’ bottom line and also prevent new farmers from joining in the state’s long farming tradition. Ultimately, the higher costs fall directly on the backs of every New Yorker in the form of higher grocery prices. “The 2 percent agricultural assessment cap has been a top priority for New York Farm Bureau this legislative session. Its passage will help our farms rein in rising property taxes that limit growth and prosperity for agriculture in this state. We are very appreciative of Assemblyman Palmesano’s co-sponsorship of the bill and his support that helped move this important legislation through his chamber,” said Dean Norton, President of New York Farm Bureau. The bill, which passed the Assembly today, will now be sent back to the Senate for final approval. ###
Posted on: Tue, 18 Jun 2013 21:59:46 +0000