Murphy Says NJ Farm Assessment Benefits Wealthy, Needs Change

New Jersey Gov. Phil Murphy (D) is calling for an overhaul of the state’s farmland assessment system, which he said has been exploited by wealthy residents to “avoid paying their fair share” of taxes.

Residents who own at least five contiguous acres of land devoted to agricultural or horticultural uses can qualify for a farmland assessment that can cut property tax bills by as much as 98%. State lawmakers have criticized the program as ripe for abuse by providing tax breaks to rock stars and athletes who aren’t engaged in legitimate farming.

In his Tuesday State of the ...