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Farm Building Exemption For newly constructed or reconstructed agricultural structures, New York's Real Property Tax Law allows a 10-year property tax exemption. Application for the exemption must be made within one year after the completion of such construction.

Agricultural Unit To qualify for agricultural assessment: Land generally must be a minimum of 7 acres and farmed by a single operation. Land must be used for crop production, commercial boarding of horses or livestock production.

To qualify for agricultural assessment: Land generally must be a minimum of 7 acres and farmed by a single operation.

You might think you need a larger piece of land to be self-sufficient, but a farm this size has the space to grow fruits, vegetables, and grains, and raise four types of animals: bees, chickens, ducks, and goats.

Another question that frequently comes up in this discussion is “how big does my farm have to be to be considered a farm?” Since property taxes are handled at the local level rather than the federal level, the answer will vary from state to state. Generally speaking, there is no minimum acreage for farm tax exemption.

One such definition is found in IRC Section 2032A(e)(4) relative to estate tax valuation; it reads as follows: The term “farm” includes stock, dairy, poultry, fruit, furbearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily for the raising of ...

Requirements: The farming operation must either 1) own or encompass at least 7 acres and gross at least $50,000 annually or 2) own more than 7 acres and gross at least $10,000 or more annually. Woodland products can account for up to $2,000 of the $10,000 minimum requirement.

With an adequate water supply, five acres is suitable to raise poultry for meat or eggs, as well as small ruminants (goats and sheep). It may be possible to produce hay or silage, even on non-irrigated land, if harvest can be contracted out.

To qualify for agricultural assessment: Must have 7 acres or more of land in production for sale of crops, livestock or livestock products. The same farmer must farm the land for at least 2 years.