Amends State Constitution to decrease acreage required for farmland assessment with certain requirements for valuing farmland under five acres in area.

ACR 172 proposes a constitutional amendment to lower New Jersey's minimum farmland acreage requirement for property tax assessment from five to three acres. This change would allow smaller farms (3-5 acres) to qualify for partial tax benefits, with 60% of valuation based on agricultural use for 3-4 acre plots and 80% for 4-5 acre plots. Land of five acres or more would retain full agricultural assessment, unchanged from current law. The amendment maintains the existing two-year consecutive agricultural use requirement for qualification.