New York (Summary)
New York (RPTL Section 480)
Tax Type: Current use value and yield tax
Description: Bare land value with exemption of timber, 6% of timber stumpage value as determined by the assessor
Law: N.Y. Real Prop. Tax Law 480
Objective: Applies to privately owned real property certified as eligible forest or reforested land by the NYS Department of Environmental Conservation (DEC) prior to September 1, 1974.
Forest Tax Program Requirements
Min/Max Acreage: 15
Min. Stocking Growth: Forest land: (a) which has been planted with an average of not less than 800 trees per acre, (b) which has been underplanted with an average of not less than 300 trees per acre, (c) upon which the majority of the mature timber has been removed in such a manner as to ensure a crop of saleable timber or pulpwood, or (d) upon which, at the time of classification as an eligible tract, there is an immature stand sufficient to produce such a crop within 30 years.
Forest Management Plan: N/A
Evidence of Use: N/A
Duration of Enrollment: N/A
Penalties for Use Change: N/A
Program Administration
State:Tracts receiving this exemption must have been issued a certificate of approval from DEC prior to September 1, 1974.
County Tax Assessor and Commissioner: Assesses value
University: N/A
Landowner: N/A
New York (RPTL Section 480-a)
Tax Type: Reduction in FMV and yield tax
Description: 80% of FMV or $40 fixed value, whichever is the lesser. 6% of timber stumpage value as determined by the assessor.
Law: N.Y. Real Prop. Tax Law 480-a
Objective: Applies to privately owned real property certified as an eligible tract of forest land by the NYS Department of Environmental Conservation (DEC) on or after September 1, 1974. Provide a means by which present and future forest lands may be protected and enhanced as a viable segment of the State's economy and to assist in the protection of the environmental benefits of the State's forest resources.
Forest Tax Program Requirements
Min/Max Acreage: 50
Min. Stocking Growth: 60 ft2 BA/A or 500 TPA
Forest Management Plan: Plan approved by the Department of Environmental Conservation
Evidence of Use: 15 years
Duration of Enrollment: Annual commitment up to 10 years
Penalties for Use Change: The penalty amount is equal to 2 1/2 times the amount of taxes that would have been levied on the forest land exemption for the current year and for many prior years in which an exemption was granted, limited to a total of ten years, plus interest charges.
Program Administration
State: Department of Environmental Conservation handles application and verifies plan.
County Tax Assessor and Commissioner: N/A
University: N/A
Private Forestry Consultant: Forester
Landowner: N/A
For a more in depth discussion of New York property taxes click here!