Legislation sponsored by Senator Steve Oroho, a member of the Senate Budget and Appropriations Committee, that would extend the expiration date of the farmland special appraisal process in the Highlands Region passed the Senate Environment Committee today. The bill, S-1004, would extend the date, which expired in June 2009, to 2014.
“This is a fundamental issue of fairness. The landowners in the Highlands Region were given assurances that they would be fairly compensated for the value of their land that was dramatically reduced in value by the implementation of the 2004 Highlands Act. In many cases, red tape and time delays hampered the ability of property owners from filing for consideration under the dual appraisal provision of the Highlands Act.
“The dual appraisal process was inserted into the Highlands Act to protect the rights of property owners whose land was significantly devalued by Highlands Act regulations. The dual appraisal process would compensate property owners at the value of their property before the Highlands Act took effect.
“The State of New Jersey wiped out millions of dollars of retirement funds and equity for many property owners and farmers in the Highlands area. I am hopeful that this bill, and its companion in the General Assembly, which correct this injustice and be signed into law.”
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March 1, 2012
