EVALUATION OF FARMLAND USE-VALUE ASSESSMENT IN NEW YORK
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This paper examines agricultural use-value legislation in light of
statewide reassessment in New York. Historically, farm real estate has been
underassessed relative to other classes of property. Thus, statewide
reassessment at full value would significantly increase farmland property
taxes. These increases could be more than offset by widespread application
of use-value assessment. In 1979, the tax reductions, when compared with
full-value assessment, would be about $8 per acre. The tax bases of some
rural communities may be reduced significantly by use-value assessment.