N.J. Admin. Code § 2:77-8.4

Current through Register Vol. 56, No. 19, October 7, 2024

Section 2:77-8.4 - Appraisal report format

(a) The appraisal reports prepared by the approved appraiser shall follow the following format. All values in the report shall be expressed in dollars per acre and dollars per TDR credit where appropriate. The final value shall be expressed in both dollars per acre, dollars per TDR credit, and total dollars. Each report will be examined and the Board shall return any report that is not valued or formatted consistent with this subchapter and shall request that any such report be modified consistent with this subchapter. Any factual or mathematical errors, which could result in a value change, may be referred to the appraisers for correction and/or clarification:

1. A summary;

2. General information;

3. Property valuation before development credit acquisition (market value unrestricted), where applicable;

4. Property valuation after development easement acquisition (market value restricted), if applicable;

5. A final estimate of development potential credits value; and

6. An addendum.

(b) The requirements for each section of the appraisal reports are described in 2:77-8.5 through 8.10.

N.J. Admin. Code § 2:77-8.4

Recodified from N.J.A.C. 2:77-8.5 and amended by R.2013 d.139, effective 12/16/2013.
See: 45 N.J.R. 495(a), 45 N.J.R. 2541(a).
Rewrote the section. Former N.J.A.C. 2:77-8.4, Development potential valuation, recodified to N.J.A.C. 2:77-8.3.