NY S04383

Amends the Agriculture and Markets Law to permit land used for processing or retail merchandising of crops, livestock, or livestock products to qualify as "land used in agricultural production" for tax exemption purposes.

Modifies the Real Property Tax Law to include structures and buildings used for processing agricultural and horticultural commodities or retail merchandising of such commodities within the property tax exemption for farm structures.

Applies to assessment rolls prepared on or after the date the act takes effect, which is immediately upon enactment.