Fisher 480 forest tax law
WebForest Tax Law Handbook - New York State Department of Environmental ... 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.
Fisher 480 forest tax law
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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. WebJan 1, 2024 · New York Consolidated Laws, Real Property Tax Law - RPT § 480. Forest and reforested lands. Current as of January 01, 2024 Updated by FindLaw Staff. …
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). 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 …
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. 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 …
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. According to Statewide parcel data, 795 properties, totaling 260,669 acres, remain committed (“grandfathered”) under the former program; these landowners have been …
smallways country innWebJun 16, 2014 · The benefit to the landowner for enrolling in RPTL 480-a is a reduction of eighty (80%) percent of the assessed value of the eligible acreage (or a lesser … smallwebWebThe lands described in the owner’s application for Certificate of Approval as eligible forest land have been examined and classified below. The stand treatments listed are required practices for continuing eligibility under Section 480-A of the Real Property Law. ELIGIBLE ACREAGE Stand No. Acreage hildatomWebThe 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 … hildawg t shirtWebSection 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 … smallwebtools.comWebFisher 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. hildawn airbnbWebA piece of land in the 480a forest tax law program may be sold, but the obligation to follow the management plan stays with the property for the remainder of the commitment period. Also, subdivisions of less than 50 acres will be subject to roll-back … 480a Forest Tax Law - The provisions of Section 480-a of the Real Properly Tax … hildawa law office