NY Sugar makers

[RUSTYBUCKET]

For those NY sugar makers that have their property under Ag assessment, could you tell me what Property Classification code is used.

Thanks

- Russ

[allgreenmaple]

For those NY sugar makers that have their property under Ag assessment, could you tell me what Property Classification code is used.

Thanks

- Russ I believe it is 100.

[ToadHill]

Not sure about Ag assessments, but we have our property enrolled in the 480-a forest tax law program. We get an 80% reduction in our assessment. I would be curious to see how it compares to an Ag assessment.

[maple flats]

I don't remember, but it saved a lot on taxes. To qualify you need at least $10,000 annual sales over the last 2 years. This includes all farm type sales, and it is based on your tax returns filed.

[RUSTYBUCKET]

Thanks for the replies. With the classification code in hand, it might help me when I file with the assessor. I'm certain this will be the first time for him dealing with a sugarbush exemption.

Maple Flats - I've read the ag assessment rules concerning the $10,000 annual sales but will be filing under a rental agreement with a local farmer.

- Russ

[maple flats]

If it is a rental, the owner must file, not you. He can use his ag income as well as yours. AS long as he has the $10,000 he doesn't even need your numbers. He will need a copy of a signed lease for at least 5 yrs. if he is getting ag assessment on the wooded portion. I went thru this with my newest lease, the land owner is not a farmer. We wrote a lease, both signed it. I gave him the farm income numbers from my tax return and he filled in the application. He told me his taxes dropped considerably when his new tax bill came. I don't remember the number but it exceeded the few hundred I pay rent @ $.75/tap.

[RUSTYBUCKET]

Maple Flats - I own the property but am not a farmer. As you stated, I will be filing using his numbers. I contacted the assessor. Sounds like it should not be a problem. Thanks for all the info.