Assemblyman Ken Blankenbush (R,C,I-Black River) is pleased at the recent passage of the two percent ag assessment cap – similar to the two percent property tax cap – designed to curb the growing property taxes on family farms. New York farmers have the second-highest property taxes in the nation, and are paying over three times the national average in property taxes – $38 per acre compared to $12 per acre nationally.

“Family farms are upstate New York’s biggest employers, and we must make every effort to make the state more agri-business friendly, which means we had to tackle the growing problem of property tax assessments,” said Blankenbush. “I am pleased that both the Assembly and Senate passed this bill. It is the right step toward supporting the growth of agriculture in our economy and jobs in upstate New York.”

Previously, agricultural property tax assessments were capped at 10 percent, but in just 15 years, property taxes doubled for family farms. Farms in the state are operating at an average loss of $17,888 annually. Blankenbush noted that property taxes were consuming 15 percent of a farm’s net income. The two percent cap is designed to give farmers a chance to catch up and invest more of their income back into their agri-businesses.