Two North Country Assembly members are praising the new two percent cap on farmland assessments that was signed into law Tuesday.

The bill, which passed unanimously in both houses, gives relief to farmers who have seen their property tax assessments rising at unsustainable rates. In separate releases issued Tuesday Assembly members Addie J. Russell and Kenneth Blankenbush offered praise for the new legislation, which they both sponsored.

“Farming is the backbone of our community and an integral piece of the North Country economy,” Russell said. “Capping the rate of increase in agricultural assessment provides relief and predictability to North Country farmers who already have to contend with fluctuating feed and crop prices.”

“Family farmers are an integral part of upstate New York’s economy. The enactment of the two-percent Agricultural Assessment Cap is great news for these job creators,” Blankenbush said. “Property taxes are crippling our rural economy, and I am pleased to see cooperation between the governor and the legislature to deliver this important relief. This will help keep upstate New York and its industries strong.”

The formula used by the state to determine annual property tax assessments is based on USDA crop sales data, the value of what is produced and the type of soil. Erratic weather across the nation has driven up prices for corn and soybeans, and agricultural land values have risen with those prices.

This rate can consume up to 15 percent of a farm’s net income.

New York farmers pay the second-highest property taxes in the nation, which is over three times the national average at $38 per acre compared to $12 per acre nationally.

Family farms are operating at an average loss of $17,888 annually, and are further hindered by increased labor costs, equipment, fuel and other resources. In just 15 years, property taxes doubled for family farms.

The two-percent cap is designed to give them a chance to catch up and invest more of their income back into their agri-businesses.

Blakenbush R-Black River, who represents the towns of DeKalb, Gouverneur, Hermon, Russell, Edwards, Fowler, and Pitcairn.

Russell D-Theresa, who represents Massena, Ogdensburg, Louisville, Waddington, Lisbon, Oswegatchie, Morristown, Hammond, Canton, Potsdam, Rossie, Macomb and DePeyster.