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Current Use Value Tax based on productivity values of soil groups
Farmland Assessment Act of 1964 Chapter 54:4-23.1
To preserve open land in New Jersey
Minimum of 5 acres
Woodland management plan certified by an approved forester
Evidence of use for previous 2 years
Income of $500/year and $.50/acre/year
Annual renewal of application
Verification of use every 3 years
Use changes result in rollback taxes for previous 3 years
Landowner submits management plan to the State Department of Environmental Protection and files application with County Tax Assessor. The farmland advisory board with the help of university faculty sets values for soil productivity groups.
Forest Economics and Policy |
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USDA Forest Service Southern Research Station |