N.J. Admin. Code § 2:76-17.10 - Appraisal of eligible farms
(a) Upon Committee
approval of an individual farm application pursuant to
N.J.A.C.
2:76-17.9(b), the county shall
select two appraisers from the list of appraisers approved by the Committee pursuant
to
N.J.A.C.
2:76-6.22 to conduct independent appraisals of
each farm to determine the market value of the development easement for which
funding is requested.
1. The county shall provide
to the appraisers a completed appraisal order checklist as required by the Committee
and a copy of the individual farm application including, but not limited to,
residential opportunities, exceptions, soils, wetlands, and any other factors that
may affect the market value of the development easement to the appraisers.
2. The appraisers shall perform appraisals in
accordance with procedures detailed in the appraisal handbook for standards at
N.J.A.C. 2:76-6.1 0, generally recognized
appraisal practices,
N.J.S.A. 4:1C-11 et seq., and
N.J.S.A. 13:8C-1 et seq.,
P.L.
1999 , c. 152 , and the
Committee 's appraisal handbook.
(b) The two appraisers shall certify the current
market value of the development easement as of a uniform date established by the
county pursuant to (a)1 above.
(c) The
valuation of a development easement for lands located in the Pinelands with
Pinelands Development Credits shall be determined pursuant to
N.J.S.A.
13:8C-1 et seq.,
P.L.
1999 , c. 152 , and 4:1C-11 et
seq., N.J.A.C. 2:76-19 and the Committee 's appraisal handbook.
(d) Upon completion of the appraisals, the
appraisers shall forward the appraisal reports to a person designated by the county ,
who shall review the reports for completeness of contractual requirements.
(e) The board shall forward the completed
appraisals to the Committee .
Notes
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