NY Law Caps Agricultural Assessment Hikes

ALBANY (AP) -

Gov. Andrew Cuomo signed a law capping agricultural land assessment increases at two percent a year, adding that the measure would keep farmers on their land by protecting them from “unsustainable” tax hikes.

State officials say Tuesday the base assessment value for agricultural land has nearly doubled over the past seven years, leading to high property tax increases. The previous cap was 10 percent. About 25 percent of New York’s land is used in agriculture.