N.Y. Real Property Tax Law § 582: Valuation of agricultural structures

§ 582. Valuation of agricultural structures. Structures used on land

used in agricultural production located within an agricultural district

and/or on property receiving an agricultural assessment as provided in

article twenty-five-AA of the agriculture and markets law shall be

assessed at an amount not to exceed the cost of replacement new at

current prices less a deduction for physical depreciation calculated in

accordance with the assessor's manual distributed by the office of real

property services, and if applicable, functional and economic

obsolescence. For the purpose of this section, structures shall be

defined as those used:

1. For the production or storage of crops, livestock, or livestock

products as defined in section three hundred one of the agriculture and

markets law;

2. For the storage of equipment and/or supplies used in such

production;

3. In whole or in part as farm labor dwellings, except for structures

which are used as the principal residence of the owner of such

structure; or

4. For on farm processing or on farm retail merchandising, so long as

at least seventy-five percent of the annual volume of such processing or

such merchandising utilizes crops, crop products, livestock or livestock

products, as defined in section three hundred one of the agriculture and

markets law, produced on such land owned or operated by such applicant.