Some landholders use farm loophole
To the editor:
I recently wrote an article concerning the fact that agricultural land should be taxed and the monies received could be used for our schools and infrastructure.
Currently, the burden of receiving funds, is to tax property, amongst whom are seniors on fixed incomes, for our schools.
The statute I was referring to was 54:4-23-1 Farm Assessed Property.
If one obtains 5 acres or more of agricultural land, with a home site, and raises horses, cows, sheep, trees and other vegetation, and can show an income of $500, you can receive a substantial reduction on the amount of the "tax on land." (The home site is taxed in a regular manner.)
Many people who are "gentlemen farmers" (and have many acres of land) take advantage of this loophole not only in our heavily property tax state, but throughout the United States.
Martha Gomez
Monroe
