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A 4620

Expands the tax exemption for new farm buildings

2025 Regular Session Introduced by Joe Angelino and 11 co-sponsors

Expands the property tax exemption for newly built farm buildings, reducing tax bills for eligible farms and potentially altering revenue for towns, counties, and schools.

REFERRED TO REAL PROPERTY TAXATION
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WeVote Research Nonpartisan
Bill Summary · A 4620

Summary of Assembly Bill A 4620 — Expands the tax exemption for new farm buildings

Overview

  • Bill number: A 4620
  • Title: Expands the tax exemption for new farm buildings
  • Purpose: To expand the current property tax exemption for newly constructed farm buildings
  • Status: Referred to the Real Property Taxation committee
  • Introduced: February 4, 2025

What the bill would do

  • The bill would broaden the existing tax exemption for new farm buildings. While the exact mechanisms (scope, eligibility criteria, duration, and phased-in effects) are not specified in the available summary, the core aim is to extend or enhance the exemption available to farm-related construction.
  • As a tax exemption measure, the proposal would modify how newly built farm structures are treated for local property taxes, potentially reducing the tax burden on eligible farm buildings and improving the economics of expanding or modernizing agricultural facilities.

Note: The precise details (e.g., eligibility thresholds, exemption length, caps, or applicability to different property types) would be contained in the bill’s text. Readers should consult the official bill language for exact provisions once released.

Who would be affected

  • Primary beneficiaries: Farm owners and agricultural operators constructing new buildings (e.g., barns, storage facilities, processing buildings) who would qualify for the expanded exemption.
  • Impacts on local governments: Towns, counties, and school districts that rely on property tax revenue would experience changes in assessed values and potential revenue implications, depending on the extent of the exemption and affected properties.
  • Assessors and municipal officials: Responsible for applying the exemption and ensuring compliance with the criteria.

Legislative status and timeline

  • Committee: Real Property Taxation
  • Actions: Initially introduced and referred to Real Property Taxation on February 4, 2025 (listed twice in the legislative record)
  • Current phase: Committee review; no further actions or floor votes are shown in the available information. The bill would move forward through committee hearings, potential amendments, and, if approved, floor votes in the Assembly before moving to the Senate (if applicable) and onward in the legislative process.

Sponsors and related bills

  • Primary sponsor: Carrie Woerner
  • Co-sponsors: Billy Jones, John Lemondes, Chris Tague, Karl Brabenec, Catalina Cruz, Marianne Buttenschon, Joe Angelino, Didi Barrett, Mary Beth Walsh, John T. McDonald III, MaryJane Shimsky (with several acting as cosponsors)
  • Related bills:
    • A 8417 (prior-session) — related Assembly measure
    • S 3665 (companion) — Senate companion bill (listed twice in the record)

Potential impact and considerations

  • Economic impact: If enacted, the expanded exemption could reduce property tax bills for new farm buildings, potentially encouraging investment in agricultural infrastructure.
  • Fiscal impact: Local government revenue could be affected depending on how broadly the exemption applies and its duration; detailed fiscal notes would accompany the bill text.
  • Policy considerations: Balancing tax relief to support farming with revenue needs of localities and school districts; assessing administrative complexity for assessors.

Next steps for readers

  • Review the full text of A 4620 for precise eligibility, duration, and dollar/percentage thresholds.
  • Monitor committee hearings in Real Property Taxation for amendments, fiscal impact, and public testimony.
  • Check for the Senate companion (S 3665) or related prior-session measure (A 8417) for context and potential cross-chamber alignment.

Compiled from official sources — confirm details with the bill’s official record.

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