Concerns assessment of farmland for property tax purposes.

This bill amends New Jersey's Farmland Assessment Act to clarify when farmland owners face "roll-back taxes" (additional taxes) after stopping agricultural use. It states that merely ceasing farming activity - without actively converting the land to non-farm use - will not trigger these taxes. Roll-back taxes, calculated as the difference between farmland tax rates and standard property tax rates for the current year and the two prior years, apply only if the land is actively converted to non-agricultural use. The bill also establishes a hardship exemption process, allowing farmers to petition for relief if temporary disruptions (e.g., due to weather or economic hardship) prevent ongoing farming, with assessors considering factors like the owner’s intent to return to farming. It directly affects New Jersey landowners who qualify for agricultural property tax assessments under the 1964 Act.