Stonington -- Residents at Thursday’s town meeting approved an ordinance that will exempt up to $100,000 each of farm equipment and non-residential farm buildings from taxes.

The ordinance is taken from a state law that allows municipal governments to exempt farm equipment from property taxes on assessments of up to $100,000 and individual non-residential farm buildings to the extent of their assessed value to a maximum of $100,000.

This means that if a farm building is worth $200,000, the owner would pay taxes on only $100,000 after applying for and receiving the $100,000 exemption. The same would hold true for equipment.

Tax Assessor Marsha Standish has said farmers already can apply for exemptions on equipment assessed at up to $100,000. The proposed ordinance would add another $100,000 exemption on equipment for a total of $200,000 on equipment.

First Selectman Rob Simmons announced a the town meeting that he would not participate in the vote as his family owns Stone Acres farm on North Main Street.

Residents also approved a proposal to rename the revitalized Permanent Committee to Study the Needs and Use of Town Public Buildings to the Stonington Facilities Committee, a reduction of nine words.