NJ ACR110

Reduces the minimum acreage required for farmland tax assessment eligibility in New Jersey from 5 acres to 3 acres by amending Article VIII, Section I, paragraph 1 of the State Constitution.

Creates a tiered valuation system for smaller parcels: land 3-4 acres receives 60% farmland assessment/40% market rate; land 4-5 acres receives 80% farmland assessment/20% market rate; land 5+ acres continues to receive 100% farmland assessment.

Maintains the existing requirement that land must be actively devoted to agricultural or horticultural use for at least two successive years prior to the tax year to qualify.

If approved by the Legislature, the amendment would be placed on the ballot at the next general election occurring more than three months after final legislative agreement.

Retains rollback tax provisions requiring landowners to pay back taxes if farmland-assessed property is converted to non-agricultural use, covering the current year plus up to two preceding years.