"Farmland and Woodland Tax Assessment Integrity and Investment Act."

This bill sets new income requirements for New Jersey farmland and woodland to qualify for lower tax assessments. Landowners must demonstrate average annual income of at least $1,000 for the first five acres (or $500 for woodland) from agricultural sales, livestock fees, or other qualifying activities. For land over five acres, the requirement drops to $5.00 per acre annually (or $0.50 per acre for woodland). The State Farmland Evaluation Committee will review and adjust these thresholds every three years to reflect current market conditions. This directly affects farmers and woodland owners seeking to maintain reduced property tax rates under New Jersey's agricultural assessment program.