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Gov. Cuomo Signs Property Tax Breaks Into Law

N.Y. Gov. Andrew Cuomo

New York Governor Andrew Cuomo (credit: Michael Nagle/Getty Images)

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ALBANY, N.Y. (CBSNewYork/AP)Gov. Andrew Cuomo has signed two new laws for property tax breaks for some farms and some first-time home buyers, both recently approved by the Legislature.

One would continue a municipal option to provide tax incentives for purchases of new homes by first-time buyers. Sponsors call home ownership “the most potent form” of economic stimulus.

Counties with programs include Albany, Alleghany, Chautauqua, Nassau, Oneida, Orange, Oswego, Rensselaer and Suffolk.

Another measure extends agriculture assessments to portions of farms used for amusements such as corn and hay bale mazes. With 38,000 farms on 7.8 million acres of cropland, pasture and woodlands statewide, lawmakers say agritourism is helping offset declining milk and crop prices.

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