General Purpose Barns Livestock
Farm Shed and Outbuildings
Pole Barns/Equipment Sheds
Farm Silos (CL 156A)
Farm Silos (CL 156C)
to Base PF Series
Adjustments to Base
Horse Riding Arenas
Horse Turn Out Sheds
General Purpose/Hay Barns
Livestock Barns with Storage
Temporary Seed/Green Houses
Introduction to Estimating the Replacement Cost of an Existing Livestock
Barn, Class 151
Age Depreciation Deduction Table
Replacement Cost Conversion Factors for 2005
State Board of Agriculture directed the New Jersey Department of Agriculture
to request that the Division of Taxation modify the Real Property
Appraisal Manual for New Jersey Assessors to properly reflect appraisal
values for farm buildings. Taxation was asked to review cost data,
depreciation and economic obsolescence schedules, and establish a
separate category for replacement cost conversion factors for farm
of Taxation, with assistance from the Department of Agriculture, updated
the New Jersey Real Property Appraisal Manual, Farm Building Section.
The farm building cost section has been revised to include changes
in construction techniques and building materials. In recent years,
pre-engineered post and frame structures (PF Series) in large have
replaced the traditional masonry and frame structures due to their
cost effectiveness in construction. The farm building supplement to
the Real Property Appraisal Manual for New Jersey Assessors provides
the building specifications and cost schedules. Included in the document
are cost conversion tables, depreciation factor tables plus various
illustrations and definitions to assist the assessor in calculating
replacement costs and accrued deprecation.
traditional building costs have been retained in the Manual to accommodate
existing structures throughout the state (pages II-108 to II-114).
Structures of this type, in most cases, will require functional and
economic obsolescence, and if warranted, physical depreciation. To
aid the assessor in the valuation of dissimilar structures, a demonstration
appraisal (page II-115.2) is included for reference. A separate cost
conversion factor has been established for these buildings (this was
not included in prior editions of the Manual).
part of the farm building section of the Manual is the new section
which includes replacement costs using current construction material
and methods. The PF Series buildings can be found on pages II 115.1
to II-115.7. The farm building section also includes structures (pages
II-115.8-115.9) which traditionally were included in the commercial
portion of the Manual. Seed starting plastic greenhouses and single
purpose/use agricultural buildings (greenhouses and silos), are included
in the Manual.
the farm building section of the Manual also includes information
about "The Business Retention Act" which amends the description of
local property to reaffirm the legislature's regularly stated position
of excluding machinery, apparatus and equipment used or held for use
in business from local taxation.
Building Section is only a portion of the complete Manual and can
not be used by itself in assessing real property on farms. The Manual
includes other facets used in an appraisal, such as, the procedures
for rural land appraisals, the cost approach, market/income approach,
cost conversion factors, etc. The updated Farm Building Section of
the Manual, will be published and distributed to local tax assessors
for utilization in assessing structures during tax year 2000. Grant
funds from the Department of Agriculture will be used by Taxation
for printing of the document for distribution to tax assessors and
any unused funds will be set aside to update the Manual in the future.
Copies of the Manual are available from Property Administration, Division
of Taxation, for a fee of $28 (this includes shipping, handling and
updates). Contact Taxation at (609) 984-3466 for ordering information.
Copies may be available at local property tax assessors' offices,
local libraries and the county tax board offices.