NJ Spotlight News
NJ's farmland tax break to get tougher rules?
Clip: 12/16/2024 | 1m 20sVideo has Closed Captions
Trump's golf club among thousands benefiting from tax reduction
The Senate Economic Growth committee advanced legislation last week that would create a new nine-member Farmland Assessment Review Commission that would be responsible for determining what level of farm activity is required to claim the farmland preservation tax benefit.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
NJ's farmland tax break to get tougher rules?
Clip: 12/16/2024 | 1m 20sVideo has Closed Captions
The Senate Economic Growth committee advanced legislation last week that would create a new nine-member Farmland Assessment Review Commission that would be responsible for determining what level of farm activity is required to claim the farmland preservation tax benefit.
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Learn Moreabout PBS online sponsorshipAlso tonight, there could be higher standards to meet for those who claim a tax break for owning farmland.
The Senate Economic Growth Committee advanced legislation last week that would create a new commission, made up of nine members, called the Farmland Assessment Review Commission.
Now, those nine members would determine what level of farm activity is required in order to claim the Farmland Preservation tax benefit.
It would require that a property be used specifically for agricultural or horticultural purposes.
It would set standards for the total sales of crops or livestock required.
And it outlines the number of acres needed to receive the benefit.
Those tax breaks first began in the 60s to preserve farmland, as land values around the state started increasing.
But now legislators are concerned that it's being misused and lacks transparency.
Several prominent new Jersey residents have taken advantage of the program, including president elect Donald Trump for his Bedminster golf club, as well as former new Jersey Governor Christie Todd Whitman and the now resigned head of NJ transit, Kevin Corbett.
The bill's sponsors, Republican Senators Joe Pennacchio and Anthony Bucco, have bipartisan support in the Senate.
But the bill hasn't seen any movement in the Assembly since it was first introduced in September.
Rutgers University seeks public input in president search
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Clip: 12/18/2024 | 4m 52s | Interview: Amy Towers, chair, Rutgers Board of Governors (4m 52s)
Cannabis consumption lounges coming next
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Clip: 12/16/2024 | 1m 12s | Cannabis Regulatory Commission will accept applications beginning Jan. 2 (1m 12s)
Life-saving biomarker testing advancing in NJ
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Clip: 12/16/2024 | 4m 46s | Lawmakers want to require health insurers to cover biomarker testing (4m 46s)
Murphy grants clemency for 36 individuals
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Clip: 12/16/2024 | 3m 34s | First exercise of governor's authority includes veterans and professionals (3m 34s)
NJ lawmakers vote to reform primary ballot
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Clip: 12/16/2024 | 4m 10s | Bill also lets county clerks reject slogans, allow appeals, but advocates want more (4m 10s)
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS