N.J. Admin. Code § 2:76-8.7

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

Section 2:76-8.7 - Appraisals

(a) The Committee shall, for each application that has been authorized pursuant to 2:76-8.6 to proceed to the appraisal process, select two independent appraisers on the list of appraisers approved by the Committee pursuant to 2:76-6.2 2 to perform appraisals on the offered farmland.

(b) Appraisals to determine the market value of the fee simple estate and market value of the restricted fee simple estate for purposes of resale of the restricted premises 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 § 2:76-8.7

Recodified from N.J.A.C. 2:76-8.6 and amended by R.2007 d.197, effective 7/2/2007.
See: 38 N.J.R. 4929(a), 39 N.J.R. 2483(a).
Rewrote the section. Former N.J.A.C. 2:76-8.7, Final Committee action, recodified to N.J.A.C. 2:76-8.10.