NY horse businesses get farm tax breaks
Tue, 09 Aug 2011 10:50:48 GMT —
New York Gov. Andrew Cuomo has signed a new law giving horseback riding and training operations the same tax breaks that horse breeding and boarding farms get.
Sponsors say the agricultural district protections and tax assessments apply to operations that have at least seven acres, stable 10 horses and gross at least $10,000 annually.
A survey in 2005 showed approximately 200,000 horses in the state with a value of more than $1.8 billion.
The New York Farm Bureau says this change, which it lobbied for, fixes a disparity in the law.