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New York State Assessors' Association, Inc. NYSAA.org

Ag Penalty Worksheet

Under certain circumstances, penalty payments are required if land that benefited from an agricultural exemption is converted to a use inconsistent with agricultural production. Except as provided by law, if any portion of the land is voluntarily converted to a use other than agricultural production, that portion becomes subject to payments equal to five times the taxes saved in the last year in which land benefited from the exemption plus 6% interest compounded annually up to five years. To this end, and thanks to the efforts of many individuals, an Excel spreadsheet has been created to assist our members in calculating the necessary penalty.

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