N.J. Admin. Code § 2:76-19.3

Current through Register Vol. 56, No. 24, December 18, 2024

Section 2:76-19.3 - Valuation of development easements

(a) Development easements shall be valued by adjusting the base value of the easement as determined in accordance with N.J.A.C. 2:76-19.4 pursuant to the factors set forth in this subchapter.

(b) Landowners shall have a choice of having their development easements appraised pursuant to this subchapter or pursuant to N.J.S.A. 4:1C-31.

(c) For those properties on which a portion of the total amount of PDCs allocated have been severed and on which Pinelands restrictions have been placed, the remaining portion of the property (on which PDCs have not been severed and on which Pinelands restrictions have not been placed) shall be eligible for valuation pursuant to this subchapter. Properties on which all allocated PDCs have been severed (and on which Pinelands restrictions have been placed), except for a portion reserved for the sole purpose of constructing residences or other buildings on the property, shall not be eligible for valuation pursuant to this subchapter.

N.J. Admin. Code § 2:76-19.3