May 20, 2010

CHIUSANO/McHOSE MEASURE PROTECTING PROPERTY VALUE IN HIGHLANDS GETS FULL ASSEMBLY APPROVAL LEGISLATION WOULD MAKE SURE HIGHLANDS PROPERTY OWNERS RECEIVE FAIRER COMPENSATION FOR THEIR LOSS

The Assembly approved legislation today that would ensure owners of environmentally-restricted lands, such as the Highlands, would be fairly compensated for their loss. It is sponsored by Assembly members Gary Chiusano and Alison Littell McHose, both R-Sussex, Morris and Hunterdon.
"The compensation for lost property value must include consideration of what the land was worth before the Highlands Act became law," McHose said. "That is only fair for property owners who have lost so much."
The legislation, A-2217, would extend a dual-appraisal process for Green Acres and farmland preservation programs, such as the Highlands, from 2009 to 2014. The dual-appraisal process assesses the land at modern day value, as well as what the land was worth previously.
"Property owners should not be doubly penalized because the dual-appraisal process expired through no fault of their own," Chiusano said. "Assessing property after it has been devalued is like stealing from someone whose home has already been burglarized."
An identical measure, S-1004, is sponsored by Sen. Steve Oroho, R-Sussex, Morris and Hunterdon. In the Assembly, it is also sponsored by Assemblyman Erik Peterson, R-Hunterdon and Warren, and has bipartisan support from Assemblyman John McKeon, D-Essex, chairman of the Environment committee.