NY S00562

Exempts from real property taxation the portion of farmland in the process of organic certification by a USDA-accredited authority for up to three years.

Land must be certified organic by the end of the three-year exemption period and used for organic crop, livestock, and livestock product production under USDA national organic program standards.

Limits the exemption to no more than 50 percent of the total assessed value of the farm operation's agricultural land per year, except in governor-declared disaster areas where the limit may be exceeded up to the acreage damaged or destroyed.

Requires land to remain in agricultural production as part of the farm operation during each year the exemption is granted, and directs the commissioner to issue annual reports on exempted acreage and assessed values.

Takes effect immediately and applies to assessment rolls prepared on or after January 1 of the year following enactment.