7 ms·
Which is literally why you have to farm the land. The agricultural rate can be substantially lower than the residential rate. I don’t know about MA, but in NY
by JackFr 3y ago
Which is literally why you have to farm the land. The agricultural rate can be substantially lower than the residential rate.
I don’t know about MA, but in NY for 7 acres or more you just need to average $10,000 in sales for 2 years. Interestingly if you have les than 7 acres the threshold goes up, but you can lease land to bring yourself over the 7 acres. Additionally, since property tax rates are set at the local municipality level an ag assessment uses state law to cap what the municipality can claim.
This is not tax advice, and I don’t know the law in MA, but probably not to far from NY’s.