N.J. Admin. Code § 2:77-8.6

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

Section 2:77-8.6 - General information

(a) The general information section of the appraisal report shall contain the following:

1. The purpose of the appraisal is to estimate the market value of a TDR credit;

2. A statement of the rights being valued:

i. Market value unrestricted;

ii. Market value restricted; and

iii. Development credit value;

3. A section defining the legal and technical terms of the report;

4. Any assumptions and limiting conditions;

5. A section identifying the subject property by municipal tax map block and lot or other means. The subject property and its current use shall be briefly described;

6. Any title changes in the last five years, easements, agreements of sale, or options;

7. A report on present market conditions and estimated marketing time;

8. Zoning and assessment information; and

9. Information detailing community and neighborhood data. This shall include, but not be limited to, the character of the community, land use trends, the degree of development pressure in the area, and any other information that may significantly impact the fee simple market value.

N.J. Admin. Code § 2:77-8.6

Recodified from N.J.A.C. 2:77-8.7 and amended by R.2013 d.139, effective 12/16/2013.
See: 45 N.J.R. 495(a), 45 N.J.R. 2541(a).
In (a)6, inserted a comma following "sale". Former N.J.A.C. 2:77-8.6, Summary, recodified to N.J.A.C. 2:77-8.5.