Reduced Assessment for Farmland - (N.J.S.A.
54:4-23.1 et seq.)
Land devoted to agricultural or horticultural use may be assessed for property
tax purposes on it value for those uses as well as its productivity rather than
on the market value of the land for any other use.
To qualify, the land must be a minimum of five acres which are devoted to
agriculture or horticulture for at least two consecutive years prior to the tax
year and must continue in that use until the end of the tax year for which the
claim is made.
The land use must result in product sales or anticipated product sales totaling
at least $500.00 per year for the first five acres plus $5.00 per acre for each
acre over five, except woodland or wetland where the minimum income must be $
.50 per acre for any acreage over five.
The reduced assessment must be applied for on Form FA-1 annually on or before
August 1 of the year prior to the tax year. Applications are available at
your local tax office.
To Find Out All About Farmland Assessment, click
http://www.nj.gov/agriculture/divisions/md/prog/agriculturaleconomic.html.
Any questions or to obtain the necessary forms, please contact or visit
the Tax Assessor office.
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