New Jersey Assembly Bill A2723

New Jersey 2022-2023 Regular Session

• Introduced: 2/14/22
• Refer: 2/14/22

Caption

Prohibits denial of farmland assessment if application is not timely filed under certain circumstances.

Impact

Should A2723 pass, it would amend the existing farmland assessment regulations under the Farmland Assessment Act of 1964. By enabling a more flexible interpretation of what constitutes a reasonable excuse for late filing, the legislation promotes the continued recognition of farmland assessment for actively cultivated properties. This shift could help protect agricultural landowners from losing their tax benefits due to minor administrative oversights.

Summary

Assembly Bill A2723, introduced in New Jersey, aims to ensure that property owners can retain their farmland assessments even if their applications are filed after the standard deadline. Currently, property owners must submit their applications for farmland assessment by August 1 of the tax year or September 1 if an extension is granted. However, this bill proposes that assessors must allow applications filed after these deadlines as long as the owners provide a reasonable explanation for the delay and meet other statutory requirements.

Contention

The bill may face contention from those who argue that it could lead to abuses of the assessment process, allowing negligent filing to be rewarded. Critics may express concerns that such changes could result in inequities in how assessments are administered, potentially increasing administrative burdens on assessing officials who would need to evaluate these 'reasonable explanations' and manage an influx of late applications. The balance between encouraging agricultural land preservation and maintaining rigorous standards for tax assessments will be a key point of debate.