N.J. Admin. Code § 18:15-14.2

Current through Register Vol. 56, No. 11, June 3, 2024

Section 18:15-14.2 - Meetings and duties

(a) The Committee meets from time to time on the call of the Secretary of Agriculture and annually determines and publishes a range of values for each of the several classifications of lands in agricultural and horticultural use in the various areas of the State.

(b) The Committee also conducts the review, required every three years, or sooner at the call of the Secretary of Agriculture or the Director of the Division of Taxation, of the minimum gross sales, payments, fees, and imputed income requirements, and anticipated yearly gross sales, payments, fees, and imputed income requirements, in order for land which is actively devoted to agricultural or horticultural use to be eligible for valuation, assessment, and taxation under the provisions of N.J.S.A. 54:4-23.1 et seq., as prescribed by N.J.S.A. 54:4-23.5, and may raise the amounts of those minimums to such levels as the Committee determines appropriate as authorized pursuant to N.J.S.A. 54:4-23.5.

Amended by 49 N.J.R. 118(b), effective 1/3/2017