Can you believe these property taxes>

ejb · Oct 26, 2004

http://www.farmsunlimited.com/cf_selections.html

Checkout some of these places in upstate NY...beautiful big farms with lots of acreage and HUGE barns...boy do I get jealous...but check out the second one down...taxes are $24000 per year...yikes.

Even if I could scape up some dough for a place like #1 or #2, (and convince my wife to move) $2000 PER MONTH for taxes on a farm? No wonder they are for sale.

JerryG · Oct 26, 2004

They have increased to the point that is really hurts when it comes to pay. I know the taxes on my farm are awful.

MikePA · Oct 26, 2004

The taxes on both the 602 acre farm and the 110 acre farm are about $40/acre/year, I don't think that's all that bad.

JJT · Oct 26, 2004

EJB, Those farms are in my back yard, at $1000 / acre they are bargains in my book, all have several nice buildings and some of them have waterfront property. Unfortunately they will most like be snatched up by developers and carved up.

twabscs · Oct 26, 2004

Agree, those farms are even cheap by Midwest standards. It must be the taxes, though, as the rates here are ~$5/acre, which may explain the high per-acre rates. City folk can afford 40 acres for $200 in taxes.

twabscs · Oct 26, 2004

Hmm. The more I think about this, the more I see why in some areas farmers can't make it (and therefore cuts the value of farmland). If you're being charged 4% a year on your land, how can you make any money farming? Farmers are lucky to get a 5-6% return on their land to begin with. Ouch.

ThistleKop · Oct 26, 2004

40$/acre/yr. for taxes is not bad for 5 acres but for larger parcels it's too much. Land owners in my area only get $50-$60/acre/yr. cash rent for tillable acres. Not much incentive to keep the land in agriculture.

TK

GerardC · Oct 27, 2004

( Unfortunately they will most like be snatched up by developers and carved up. )

My aunt has a 100 acre farm in Burnt Hills, NY and has been hounded by developers for years. Last year she was offered over $1,000,000.00 for the farm but she refuses to sell. Gerard

dummy · Oct 27, 2004

Last year she was offered over $1,000,000.00 for the farm but she refuses to sell. Had a family member in a similar situation. He didn't refuse to sell though, he just told them he wanted cash upfront.. All of the developers wanted to make payments, to which he replied, "I'm 75 years old, payments won't do me any good, bring cash so I can spend it while I'm able."

rdln · Oct 27, 2004

Those do seem reasonable, but a couple do have high taxes, does NY have a farmland preservation program were taxes are reduced in exchange for development rights for 100 years?