N.J. Admin. Code § 18:15-7.4

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

Section 18:15-7.4 - Tax years applicable

(a) Roll-back taxes are applied to land for the tax year in which the change in the use of the land occurs and for such of the two tax years immediately preceding such year if assessed under the Act.

(b) Examples are as follows:

Example (1): A parcel of land qualifies for farmland assessment for the tax years 2015, 2016, and 2017. A change of use occurs in June 2017. The land is subject to roll-back taxes for the tax years 2015, 2016, and 2017.

Example (2): A parcel of land was assessed generally for the tax year 2015, and qualified for farmland assessment in the tax years 2016 and 2017. A change in use occurs in June 2017. The land is subject to roll-back taxes for the tax years 2016 and 2017, but not subject to roll-back taxes for the tax year 2015, inasmuch as the land was not assessed under the Act for such tax year.

N.J. Admin. Code § 18:15-7.4

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