N.J. Admin. Code § 2:76-10.5

Current through Register Vol. 56, No. 12, June 17, 2024

Section 2:76-10.5 - General information

(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.

N.J. Admin. Code § 2:76-10.5

Amended by R.2005 d.361, effective 11/7/2005.
See: 37 New Jersey Register 2310(b), 37 New Jersey Register 4215(a).
Added (b)-(g).