Anytime
a property is restricted by deed for any of the following programs:
Forest Legacy (FL); Agricultural Preservation Restriction (APR); Conservation
Restriction (CR); Open Space Restriction; by which the use of the
property is restricted shall be valued as such restricted property.
If said restriction is recorded between January 1 and June 30 of the
calendar year, it shall take effect for assessment purposes on July
1. If said restriction is recorded between July 1 and December 31
of the calendar year, the restriction shall take effect for assessment
purposes on the following July 1. (By way of example, restriction
is recorded on February 12, 2021; restriction commences for assessment
purposes on July 1, 2021, for fiscal 2022. If the restriction is recorded
on September 12, 2021; restriction commences for assessment purposes
on July 1, 2022, for fiscal 2023.)
The pricing issued annually by Division of Local Services (DLS) and recommended by the Farmland Valuation Advisory Commission (FVAC) shall be utilized in valuing these types of restricted properties without further enrollment in a Chapter 61 (Forestry), 61A (Agricultural/Horticultural) or 61B (Recreation/Open Space) program. If no pricing is available pursuant to the use of the property, the valuation methodology in such chapters (61, 61A and 61B) shall be utilized.