Posted on 06/10/2011 3:58:19 PM PDT by Halfmanhalfamazing
NEPTUNE, N.J. (AP) — Spotty enforcement and an outdated state law allow thousands of landowners to pay pennies on the dollar in property taxes.
The Farmland Assessment Act of 1964, intended to preserve agriculture in New Jersey, is being used by millionaires, developers and anyone with at least five acres to slash their farmland tax bills by 98 percent.
An Asbury Park Press investigation into farmland assessment records found that landowners deemed "fake farmers" by those calling for reform are producing little more than the bare minimum — $500 — in goods to qualify for the tax breaks.
One landowner grew weeds and another forged a signature on a government document in attempts for the tax break, the Press found. A third used a cow to eat the home's front lawn for a few months and then sold the animal in the fall. Under the law, that homeowner was entitled to the tax break on his five acres.
Only ‘farmers’ that live off the land, e.g. no other income should get a tax break. On the other hand, land values should also be looked at when the land is not being used to produce income - vacant land that is not used for anything needs to be in a special category.
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