480-a

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480-a

The New York Forest Tax Law Program (commonly called “480a” after the section of the tax code relating to it) is a property tax reduction program. Participation is voluntary, and you must own at least 50 acres of woods in adjoining properties in New York to be eligible. 480a lowers your taxes by exempting up to 80% of the assessed value of enrolled acreage from property taxes.

Synonyms: 480a
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