Fisher 480 forest tax law
Web1. Program legal-common name: Forest Tax Law (480-a) Tax Type: Reduction in FMV and yield tax Description: 80% of FMV or $40 fixed value, whichever is the lesser. 6% of … WebThe New York State RPTL, Section 480a, otherwise known as 480a or the Forest Tax Law, was enacted in 1974. Forest tax exemptions have been in effect in New York State since 1912. “Section 480 of the Real Property Tax Law became effective October 1, 1959 as an amended version of the Fisher Forest Tax Law of 1926”. i The current Forest Tax ...
Fisher 480 forest tax law
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WebPrivately 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 is partially exempt from taxation but is liable for special ad valorem levies and special assessments. WebSection 480 The Fisher Forest Tax Law was first enacted in 1926, and some version has been in existence since that time. In 1956, the State Legislature crafted Section 480 of …
WebApproximately 65 acres of the property is under the Fisher 480 forest tax law, which provides a handsome reduction in taxes, while being less burdensome than its 480a tax law successor. The remaining ~6 acres are not under the Fisher Act and could easily be developed for a camp or home. WebWhen an owner voluntarily withdraws from the §480 program and does not become eligible for the forest taxation program authorized by RPTL §480-a. Calculation of …
WebRP-480a Form - Application for Real Property Tax Exemption for Forest Land (82 K) This is actually a form from the NYS Board of Real Property Services. You need to file … chinese delivery aspen hill mdWeb1. Program legal-common name: Forest Tax Law (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. grand funk railroad hoorayWebFeb 24, 2014 · Under NYS RPTL Fisher Act (480). 2.When no forest growth is cut but, as determined by DEC, the tract contains on the average 40,000 board feet of saleable soft wood per acre or 20,000 board feet of saleable hard wood per acre (or, where there is a mixture of the two kinds of wood, the relative percentages of such amounts). chinese delivery arnold moWebFisher 480 carries a very low administrative burden; there is no requirement to hire a forester or develop a forest management plan as with 480a. The only requirement is that the landowner pay a 6% severance tax on the timber stumpage yield from timber sales. chinese delivery athens greeceWebIt is recommended that the current level of exemption provided in Section 480-a (80 percent of the assessed value of the eligible land) be retained, and the alternative exemption formula (allowing exemption of any assessment in excess of $40 of equalized value) be deleted from the revised law. chinese delivery ashburn vaWebThe property is under the Fisher 480 Forest Tax Law, which provides a handsome reduction in taxes, while being less burdensome than its 480a tax law successor. Property lines are marked with pink flagging, as well as more permanent blazes and paint, which follow old agricultural fencing an stone wall remains. grand funk railroad inside-looking outWebAcademia.edu is a platform for academics to share research papers. grand funk railroad inside looking out live