How much is an acre of farmland in NJ?
New Jersey farm real estate value averages $14,400 per acre, up 5.9% from 2020. This ranks New Jersey second nationally, behind Rhode Island’s average of $16,400 per acre. New Jersey has the highest published cropland average value per acre at $14,800. California is second at $13,860.
How many acres do you need to be considered a farm in NJ?
5 acres
To be eligible for Farmland Assessment, land actively devoted to an agricultural or horticultural use must have not less than 5 acres devoted to the production of crops; livestock or their products; and/or forest products under a woodland management plan.
Is there farmland in New Jersey?
By Bill Gallo | For NJ.com According to the New Jersey State Agriculture Development Committee, the state’s total of preserved farmland had risen to 232,500 acres by the June 30, 2018.
Where are the most farms in NJ?
Hunterdon County is the leader in the number of farms preserved with 417 followed by Salem County at 326 and Warren County at 272. Burlington County has the most municipalities with preserved land at 21, followed by Warren County with 19 and Hunterdon County with 17.
Do farms pay taxes in NJ?
All land qualifying for farmland assessment must meet a minimum income threshold from the sale of the agricultural output of the farm. The threshold begins at $500 for the first five acres. New Jersey farmers pay about $50-$80 tax per farmland acre.
Are Farms tax exempt in NJ?
Sales of tangible personal property as well as production and conservation services to a farmer are exempt from New Jersey sales and use tax when used directly and primarily in the production, handling and preservation for sale of agricultural or horticultural commodities at the farming enterprise of that farmer.
Which county in NJ has the most farmland?
Salem County During the year, an additional 1,940 acres were protected. In all, Salem County had 36,011 preserved acres as of the end of 2016 making it No. 1 in New Jersey in the number of preserved acres. The acreage includes 304 farms in 11 municipalities.
What NJ County has the most farms?
Is buying farmland a good investment?
The reasoning is simple: farmland is a good investment because it’s a limited resource (there’s only so much land in the US and the number of undeveloped acres keeps shrinking) and it’s in high-demand, given food production is so essential.
What is the biggest crop in NJ?
The state’s most valuable fruit crops are blueberries and cranberries. New Jersey is a leading producer. Apples, peaches and strawberries are also important New Jersey crops. Leading field crops are soybeans, corn and wheat.
What do you need to be considered a farm in NJ?
Farmland Assessment
- You must own at least 5 contiguous acres devoted to agricultural/horticultural use;
- Land must be devoted to agricultural/horticultural uses for at least two consecutive years prior to the tax year;
- You must apply for Farmland Assessment with the tax assessor on or before August 1 of the pretax year;
How many acres is NJ?
Roughly two million of New Jersey’s five million acres are developed, and a little over one million are protected by various levels of government.
How many acres of farmland are for sale in New Jersey?
Recent listings in New Jersey of farms for sale totaled nearly 5,000 acres acres of farms and a combined market value of $88 million. The average price of farms for sale in New Jersey was $1.4 million. Farms and other agricultural land for sale in New Jersey sustain livestock including horses, goats and cattle.
What kind of land can you own in New Jersey?
Current land applications for farms for sale in New Jersey include for row crop and livestock use. New Jersey holds more than a half-million acres of state-owned land available for outdoor recreation in a diverse landscape that spreads from hardwood ridges to pine forests to coastal marshlands.
What kind of livestock can you raise on a farm in New Jersey?
Farms and other agricultural land for sale in New Jersey feature livestock including goats, horses, cattle and sheep. Current land applications for farms for sale in New Jersey include for livestock use.
How much land is available for outdoor recreation in New Jersey?
New Jersey holds more than a half-million acres of state-owned land available for outdoor recreation in a diverse landscape that spreads from hardwood ridges to pine forests to coastal marshlands. Of this, some 350, 000 acres reside within 121 wildlife management areas specially designated for wildlife and wildlife-related recreation.