 Despite the law, farm property taxes across Connecticut rose 44% between 1997 and 2002, the second highest rate of increase in the Northeast over that period.Under Connecticut law, farmers can claim exemptions from property taxes on machinery and equipment valued up to $100,000; temporary structures used in the agricultural process; livestock and produce; and in the case of aquaculture, vessels used for commercial fishing.Municipalities have the option of allowing a tax abatement of up to 50% for other farm property.