N.J. Admin. Code § 18:15-6.4

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:15-6.4 - Evidence of anticipated yearly gross sales, fees, or payments

(a) An applicant must submit proof that from the present use and the nature and characteristics of the land and from the productivity plans of the owner or occupant thereof, it can be demonstrated that the income requirements as specified in N.J.A.C. 18:15-6.1 are met. Included in the minimum gross sales to qualify the farm should be crops grown for on-farm use at the retail sales value which the farmer would have to pay for if purchased in the open market, but not included would be products grown for on-farm personal consumption.

(b) The formula for computing the minimum gross sales to qualify a farm for farmland assessment is illustrated by the following example:

Example:

A farm contains 105 actively devoted acres, 75 acres are farmland and 30 acres are woodland. The gross sales are $ 1,485. The minimum gross sales for the property per year would be $ 1,365 ($ 1,000 for the first five acres devoted to farmland, plus $ 350.00 (70 x $ 5.00) for the additional acres used for farmland, plus $ 15.00 (30 x $ 0.50) for the acres under an approved woodland management plan. Since the farm has gross sales of $ 1,485 and $ 1,365 is the minimum requirement, this farm would qualify under the Act as to gross sales.

N.J. Admin. Code § 18:15-6.4

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