Governor Approves Bill Extending Real Property Tax Exemption on Farm Buildings

December 11th, 2018

On Monday, Gov. Cuomo announced that he has signed into law a 10-year extension of the state law that exempts agricultural producers from paying real property tax on buildings that are essential to the production of agricultural or horticultural products, including temporary greenhouses, dairy barns and exercise arenas for horse-boarding operations.

Gov. Cuomo said:

“New York’s agricultural industry is a major sector of our economy, and it’s critical that we continue to support local farmers and growers. This tax exemption will help New York’s hard-working agricultural producers invest in their farms and grow their businesses, and as a result increase competitiveness and productivity for years to come.”

Unshackle Upstate supports the extension of this tax exemption, which will make it more economical to operate farms through Upstate New York.  This measure incentivizes investment while limiting rising property taxes based on updated agricultural assessments of farm property.