This paper examines agricultural use-value legislation in light of statewide reassessment in New York. Historically, farm real estate has been underassessed relative to other classes of property. Thus, statewide reassessment at full value would significantly increase farmland property taxes....

Based on regression models, the New York Agricultural Districts Law seems consistent with preserving the best farmland because farm size and productivity explain participation. Growth on tax rates and differences in property tax administration explain participation in use-value assessment,...