As used in this subchapter, the following words and terms shall
have the following meanings:
"Agricultural value" means the value of the property based solely
on its agricultural productivity which does not take into account alternative uses
for the property.
"Agricultural market value" means the market value of property
with a present and future highest and best use for agricultural production. This
includes consideration of exposure on the market and competition for agricultural
property among farmers.
"Appraiser handbook" means a document prepared and adopted by the
Committee which identifies the standards for conducting appraisals which shall be
available to the boards.
"Board" means a county agriculture development board established
pursuant to N.J.S.A. 4:1C-14 or a subregional agricultural
retention board established pursuant to
N.J.S.A. 4:1C-17.
"Committee" means the State Agricultural Development Committee
established pursuant to
N.J.S.A. 4:1C-4.
"Development easement" means an interest in land, less than fee
simple absolute title thereto, which enables the owner to develop the land for any
nonagricultural purpose as determined by and acquired under the provisions of
N.J.S.A. 4:1C-11 et seq., P.L. 1983, c.32, and
any relevant rules or regulations promulgated pursuant thereto.
"Exceptions", unless the text indicates otherwise, means portions
of the applicant's land holdings which are not to be encumbered by the deed
restrictions contained in
N.J.A.C. 2:76-6.1 5.
"Hydrologically limited area" means those areas which are
designated as freshwater wetlands, transition zones, 100 year flood hazard areas,
hydric soils, State open waters, State-owned riparian lands, or otherwise lack or
have limited development potential due to excessive water.
"Market value restricted" means the market value of property
subject to the deed restrictions placed on the title of the property as set forth in
N.J.A.C. 2:76-6.1 5.
"Market value unrestricted" means the market value that a property
will bring in the open market under all conditions requisite for a fair sale and
which value includes all rights of fee simple ownership.
"Subject property" means the property being considered for the
purchase of a development easement.
