S.346

Extends special appraisal process expiration date for Green Acres and farmland preservation programs in Highlands Region.

This bill extends the expiration date of the special appraisal process for the Green Acres program and farmland preservation program from June 30, 2024 to June 30, 2029 for lands in the Highlands Region. The special appraisal process involves conducting two appraisals of lands proposed for acquisition, one based on the property value on the proposed acquisition date and the other based on the value as of January 1, 2004. The higher of the two values is used as the basis for negotiation with the landowner when determining the property’s final acquisition price.