N.J. Admin. Code § 2:76-11.7

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

Section 2:76-11.7 - Appraisals

(a) For each application that has been authorized pursuant to 2:76-11.6 to proceed to the appraisal process, the Committee shall select two independent appraisers on the list of appraisers approved by the Committee pursuant to 2:76-6.2 2 to perform appraisals to determine a development easement value on the offered farmland.

(b) Appraisals to determine the market value of the development easement shall be conducted consistent with the process set forth in subsection c of section 24 of P.L. 1983, c. 32 (4:1C-31 ), sections 38(e), (g), (i) and (j) of the Garden State Preservation Trust Act, P.L. 1999, c. 152, and N.J.A.C. 2:76-10.

(c) Upon completion of the appraisals, the appraisers shall forward the appraisal reports to the Committee.

N.J. Admin. Code § 2:76-11.7

Amended by R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
Rewrote (a) and (b); and deleted (d).