The Farmland Assessment Act of 1964 provided for reduced taxes on farmland in New Jersey in an effort to reduce the sale of farmland to developers for housing and commercial space.

History

The effect was to slow development, and farmland loss, but when prices rose for land the farms were still sold for profit. The act was supplemented with the

Agriculture Retention and Development Act The Agriculture Retention and Development Act was created as part of New Jersey's efforts to counteract the loss of farmland in the state. The legislation formed the basis needed for the state to purchase the easements of New Jersey farms in order ...

of 1981 which put permanent deed restrictions on the sale of farm properties. The Farmland Assessment Act continues today allowing tax exemptions for property 5 acres or more in size devoted to farmland or woodland.

References

External links

*{{cite web , url=http://www.state.nj.us/agriculture/FarmlandAssessmentGuide.pdf , title=Farmland Assessment Act of 1964 , access-date=2008-07-23 , publisher= New Jersey
More on Farmland Assessment
New Jersey statutes 1964 in American law 1964 in New Jersey Taxation in New Jersey