Fisher 480 forest tax law
WebFeb 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). 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 …
Fisher 480 forest tax law
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WebNEW YORK STATE DEPARTMENT OFENVIRONMENTAL CONSERVATION APPLICATION FOR CERTIFICATION OF APPROVAL for Eligible Forest Land Under Section 480-a of the Real PropertyTax Law Application Number Date Received OWNER: MAILING ADDRESS: CITY: STATE: ZIPCODE: TELEPHONE HOME: OFFICE: … WebSection 480 of the Real Property Tax Law became effective October 1, 1959 as an amended version of the Fisher Forest Tax Law of 1926. The program was closed to new applicants in 1974. However, tracts certified prior to September of 1974 were allowed to continue to receive the tax benefits of Section 480.
WebThe 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. WebApr 20, 2024 · The 480 Program, also known as the Fisher Forest Act, dates back to 1926 – and the land management goals and requirements reflected the needs of the time. …
WebThe 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. WebProperties removed from 480-a are subject to 2.5 times the tax savings, plus interest, for up to the past 10 years you’ve been enrolled in 480-a. When only portions of properties are removed (for example, if you choose to develop on enrolled land), the penalty is 5 times the tax savings, plus interest, for up to the past 10 years.
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 timber stumpage value as determined by the assessor.
WebForest Tax Law Handbook - New York State Department of Environmental ... howard blecherhttp://www.barnardclan.com/dec/publications/480a.html howard blankenship arWebApproximately 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. how many hurricanes in 2022 in louisianaWebIt 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. howard blake high school tampaWebThe 480-a Real Property Tax Law is designed to give landowners compensation for managing their parcel in a sustainable manner for timber, wildlife, aesthetics, and recreation. The Forest Tax Law can … how many hurricanes in hawaiiWebValerie B. Geiger. Valerie B. Geiger is a founding partner of Cucinelli Geiger, PC and has been practicing in the field of elder law since 2004 – and working directly with seniors … how many hurricanes in 2008WebSection 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 … howard bleiwas and associates