N.J. Admin. Code § 2:76-6.7

Current through Register Vol. 56, No. 19, October 7, 2024

Section 2:76-6.7 - Appraisals

(a) The procedure for conducting and reviewing appraisals shall be as follows:

1. The Committee shall adopt a list of approved appraisers pursuant to 2:76-6.2 1;

2. The board in accordance with county procedures shall select two appraisers from the list adopted by the Committee to conduct independent appraisals of development easements or on lands that have received board and, where appropriate, Committee approvals;

3. Appraisers shall perform appraisals in accordance with procedures detailed at N.J.A.C. 2:76-10, in the generally recognized appraisal practices and in the appraisal handbook;

i. For grant requests submitted pursuant to 2:76-6.5 to the Committee, the appraiser shall certify the market value of the development easements as of August 1 of the year in which the appraisals are conducted;

4. Upon completion of the appraisals, the appraisers shall forward appraisal reports to the appropriate person designated by the board to review the reports for completeness of contractual requirements; and

5. For grant requests for the purchase of development easements submitted to the Committee, the board shall forward the completed appraisals to the Committee on or before November 15 of the year in which the appraisals were conducted.

N.J. Admin. Code § 2:76-6.7

Amended by R.1988 d.493, effective 10/17/1988.
See: 20 N.J.R. 1503(a), 20 N.J.R. 2565(a).
(b)4 amended; new (b)5 added and old 5 renumbered as 6; (b)7 and 8 added.
Recodified from 2:76-6.8 and amended by R.1993 d.392, effective 8/2/1993.
See: 25 N.J.R. 1804(d), 25 N.J.R. 3453(e).
Prior text at 2:76-6.7, "Municipal review," repealed.
Amended by R.1994 d.393, effective 8/1/1994.
See: 26 N.J.R. 1419(a), 26 N.J.R. 3159(b).
Amended by R.1995 d.613, effective 12/4/1995.
See: 27 N.J.R. 13(a), 27 N.J.R. 4875(a).
Amended by R.2001 d.311, effective 9/4/2001.
See: 33 N.J.R. 1980(b), 33 N.J.R. 2987(a).
Rewrote (a)3i and (a)5.
Amended by R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
In (a)1, substituted "approved appraisers pursuant to N.J.A.C. 2:76-6.21" for "approved appraisers who are designated as state certified general real estate appraisers (SCGREA) pursuant to N.J.A.C. 13:40A-1.2"; deleted (a)1i; in (a)3, inserted "at N.J.A.C. 2:76-10, in the generally recognized appraisal practices and"; rewrote (a)3i; and in (a)5, deleted the first sentence and deleted "after 2001" following the first occurrence of "Committee".