Convert To Excel Legal New Jersey Farm Operations Forms For Free

An acre of land in New Jersey can cost anything from $10,000-$3,500,000 per acre, depending on where you are looking to build your custom home. The average cost per acre across New Jersey, however, is around $200,000. Such a huge range can be frustrating. The good news is there are reasons for the range.

Additional Land Requirements: Additional Land Requirements: To be eligible for Farmland Assessment, land actively devoted to an agricultural or horticultural use must have not less than 5 acres devoted to the production of crops; livestock or their products; and/or forest products under a woodland management plan.

Farmers who produce agricultural or horticultural commodities for sale are exempt from paying sales or use tax on purchases of farm equipment used for tilling, planting, maintaining, or harvesting crops and on equipment used directly in raising livestock or their products for sale.

New Jersey's real property tax is an "ad valorem tax," or a tax ing to value. All real property is assessed ing to the same standard of value except for qualified agricultural or horticultural land.

Additional Land Requirements: Additional Land Requirements: To be eligible for Farmland Assessment, land actively devoted to an agricultural or horticultural use must have not less than 5 acres devoted to the production of crops; livestock or their products; and/or forest products under a woodland management plan.

Farmland Assessment You must own at least 5 contiguous acres devoted to agricultural/horticultural use; Land must be devoted to agricultural/horticultural uses for at least two consecutive years prior to the tax year; You must apply for Farmland Assessment with the tax assessor on or before August 1 of the pretax year;