The Farmland and Woodland Tax Assessment Integrity and Investment Act introduces significant amendments to the existing Farmland Assessment Act of 1964 in New Jersey, focusing on the assessment and taxation of land used for agricultural or horticultural purposes. Key provisions include the adjustment of minimum gross sales and income requirements for land to qualify as actively devoted to agricultural use, with specific thresholds set for different land sizes. The State Farmland Evaluation Committee is responsible for these adjustments, which will take effect in the second full tax year after their adoption. The bill also allows for exemptions from income requirements under certain circumstances, such as the landowner's injury or illness, and mandates that landowners submit applications for valuation and assessment by specific deadlines, including a new $100 application fee per parcel.

Additionally, the bill enhances accountability by increasing civil penalties for gross misrepresentation on applications, with fines escalating for repeat offenses. It eliminates the ability of municipalities to charge fees for on-site inspections during the application process and establishes an Internet-based application portal for taxpayers. The membership of the State Farmland Evaluation Committee is expanded to include additional forestry representatives, and the committee is required to submit an annual report to the Governor and the State Board of Agriculture. These changes aim to improve the integrity and efficiency of farmland assessments while ensuring that landowners are held accountable for accurate reporting.

Statutes affected:
Introduced: 54:4-23.5, 54:4-23.13, 54:4-23.14, 54:4-23.20