Current through Register Vol. 56, No. 18, September 16, 2024
(a) The general
information section of the appraisal report shall contain the following:
1. The purpose of the appraisal which estimates
the market value of the development easement on the subject property as restricted
pursuant to 2:76-6.1 5;
2. A statement of the rights being valued:
i. Market value unrestricted;
ii. Market value restricted; and
iii. Development easement value;
3. A section defining the legal and
technical terms of the report;
4. Any
assumptions and limiting conditions;
5.
A section identifying the subject property by municipal tax map block and lot or
other means. The subject property and its current use shall be briefly
described;
6. Zoning and assessment
information; and
7. Information
detailing community and neighborhood data. This shall include, but not be limited
to, the character of the community, land use trends, degree of development pressure
in the area and any other information which may impact the market value
unrestricted.
(b) Appraisers
shall apply the valuation procedure set forth in N.J.S.A. 13:8C-38j to land the
owner of which is:
1. The same person who owned
the lands on the date of enactment of
P.L.
2004, c. 120 (August 10,
2004) and who has owned the lands continuously since that enactment date;
2. An immediate family member of that person,
defined as a spouse, child, parent, sibling, aunt, uncle, niece, nephew, first
cousin, grandparent, grandchild, father-in-law, mother-in-law, son-in-law,
daughter-in-law, stepparent, stepchild, stepbrother, stepsister, half brother, or
half sister, whether the individual is related by blood, marriage, or adoption;
or
3. A farmer as defined in (c)
below.
(c) Farmer means an
owner or operator of a farming operation who during the calendar year immediately
preceding submittal of a farmland preservation application, realized gross sales of
at least $2,500 of agricultural or horticultural products produced on the farming
operation exclusive of any income received for rental of lands.
1. Documentation to be provided by the farmland
preservation applicant shall include, but not be limited to, sales receipts and
Federal tax forms.
(d) A
governmental unit or a qualifying tax-exempt nonprofit organization shall be
eligible for the appraisal valuation procedure set forth in N.J.S.A. 13:8C-38j
provided that it:
1. Acquired land or an interest
in land or is a contract purchaser to acquire land or an interest in land, for
farmland preservation purposes pursuant to the Agriculture Retention and Development
Act, 4:1C-11 et seq., and the Garden State
Preservation Trust Act,
13:8C-1 et seq.;
2. Submitted a farmland preservation application
to the Committee for a grant pursuant to the Agriculture Retention and Development
Act, 4:1C-11 et seq., and the Garden State
Preservation Trust Act,
13:8C-1 et seq., within three years of
the date of acquisition of the land or interest in land; and
3. Acquired the land or interest in land from a
farmer as defined in (c) above.
(e) If an owner of land who meets the definition
of farmer in (c) above transferred ownership to a business entity, such as a
corporation, limited liability company, partnership, or trust, after the date of
enactment of P.L. 2004, c.
120 (August 10, 2004), the new owner shall be eligible
for the valuation procedure set forth in N.J.S.A. 13:8C-38j provided that the
transferring owner, or an immediate family member of the owner, as defined in (b)2
above, continues to hold an interest in the business entity or trust, and further
provided that the business entity or trust meets the gross sales criteria of (c)
above in the calendar year immediately preceding submittal of a farmland
preservation application.
1. Documentation to be
provided by the farmland preservation applicant shall include, but not be limited
to, deeds of ownership or other official documentation showing that the original
owner has an interest in the business entity or trust, and sales receipts and
Federal tax forms showing that both the transferring owner and the business entity
or trust meet the definition of farmer in (c) above.
(f) If the ownership of land has been transferred
from a person who meets the definition of farmer in (c) above to an estate after the
date of enactment of
P.L.
2004, c. 120 (August 10,
2004), the estate shall be eligible for the valuation procedure set forth in
N.J.S.A. 13:8C-38j.
1. Documentation to be
provided by the farmland preservation applicant shall include, but not be limited
to, deeds of ownership or other official documentation verifying the estate's
ownership of the land, and sales receipts and Federal tax forms providing proof that
the original owner was a farmer as defined in (c) above.
(g) The landowner shall submit all required
documentation set forth in (c) through (e) above to: the appropriate Board if it has
submitted a farmland preservation application to the Board; to the Committee, if it
has submitted a farmland preservation application to the Committee; to a municipal
governing body, if it has submitted a farmland preservation to the municipal
governing body; and to a non-profit organization, if it has submitted a farmland
preservation application to a non-profit organization which intends to apply to the
Committee for a grant.
1. If a Board received the
farmland preservation application, it shall determine if the landowner is eligible
for the valuation procedure set forth in N.J.S.A. 13:8C-38j based on the
documentation submitted by the landowner.
i. The
Board shall advise the appraisers regarding whether an individual property is
eligible for the valuation procedure set forth in N.J.S.A. 13:8C-38j.
2. If the Committee received the
farmland preservation application, it shall determine if the landowner is eligible
for the valuation procedure set forth in N.J.S.A. 13:8C-38j based on the
documentation submitted by the landowner.
i. The
Committee shall advise the appraisers regarding whether an individual property is
eligible for the valuation procedure set forth in N.J.S.A. 13:8C-38j.
3. If a municipal governing body
received the farmland preservation application and has applied to the Committee for
a planning incentive grant pursuant to
4:1C-43.1, it shall forward the
documentation set forth in (c) through (e) above to the Committee.
i. The Committee shall determine whether an
individual property is eligible for the valuation procedure set forth in N.J.S.A.
13:8C-38j and shall advise the municipal governing body to notify its appraisers of
the Committee's determination.
4. If a non-profit organization received the
farmland preservation application and applies to the Committee for a grant, it shall
forward the documentation set forth in (c) through (e) above to the Committee.
i. The Committee shall determine whether an
individual property is eligible for the valuation procedure set forth in N.J.S.A.
13:8C-38j and shall advise the non-profit organization to notify its appraisers of
the Committee's determination.
