Garden State Times

The Senate Economic Growth Committee has approved a bill sponsored by Senator Joe Pennacchio and Senator Anthony Bucco. The legislation aims to establish a commission to review the farmland assessment program, ensuring fair tax benefit allocation.

Senator Pennacchio emphasized the importance of the program in preserving open spaces and safeguarding water and food supplies. He stated, "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."

Bill S-3446 proposes creating a nine-member Farmland Assessment Review Commission. This body would work to keep the farmland assessment program effective and properly enforced.

Senator Bucco expressed concern about potential exploitation of the system: "The public has a right to know if the system is being gamed," he said. "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 proposed commission would include key figures such as the Secretary of Agriculture and the Director of the Division of Taxation in the Treasury Department.

Senator Pennacchio highlighted this legislation's significance in an op-ed published in September. The bill was initially introduced in June.

For those interested, the full text of Bill S-3446 is available online.