NEW JERSEY – The Senate Economic Growth Committee voted in favor of legislation sponsored by Senator Joe Pennacchio (R-26) and Senator Anthony Bucco (R-25) that would establish a commission to review and recommend changes to the farmland assessment program to ensure the fair allocation of tax benefits.
“The farmland assessment program is an essential tool that preserves open spaces and safeguards our water and food supplies,” said Pennacchio. “While I wholeheartedly support the mission of this program, the existence of more than 37,000 assessed properties raises serious questions about the program’s integrity. Establishing a review commission would address these concerns, ensure proper enforcement of regulations, and provide much-needed transparency for taxpayers.”
The bill, S-3446, would establish a nine-member Farmland Assessment Review Commission to ensure the farmland assessment program remains up-to-date, effective, and is properly enforced.
“The public has a right to know if the system is being gamed,” said Bucco. “The Farmland Assessment Review Commission will examine the level of farm activity required to justify property tax reductions and assess the impact that those benefits have on surrounding communities. Our goal is to ensure the program remains true to its original intent and is safeguarded from exploitation.”
The commission would include the Secretary of Agriculture and the Director of the Division of Taxation in the Treasury Department among its appointed members.
In September, Senator Pennacchio published an op-ed to highlight the importance of the legislation, which was introduced in June.
