New Jersey ACR110 proposes to amend the State Constitution to lower the acreage required for farmland assessment from five acres to three acres.

New Jersey ACR110 proposes to amend the State Constitution to decrease the acreage required for farmland assessment from five acres to three acres. This amendment would allow land that is greater than three acres but less than five acres to receive partial farmland assessment. Currently, land over five acres qualifies for a full farmland assessment. The amendment specifies valuation methods for land between three and five acres, with land between three and four acres assessed at 60 percent agricultural use and 40 percent market rate, and land between four and five acres assessed at 80 percent.

New Jersey ACR110 proposes to amend the State Constitution to lower the acreage required for farmland assessment from five acres to three acres.

New Jersey ACR110 proposes to amend the State Constitution to decrease the acreage required for farmland assessment from five acres to three acres. This amendment would allow land that is greater than three acres but less than five acres to receive partial farmland assessment. Currently, land over five acres qualifies for a full farmland assessment. The amendment specifies valuation methods for land between three and five acres, with land between three and four acres assessed at 60 percent agricultural use and 40 percent market rate, and land between four and five acres assessed at 80 percent.