Assembly OK's plan protecting property value in Highlands

Legislation would make sure Highlands property owners receive fairer compensation The assembly environment and solid waste committee unanimously approved legislation 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. “This is a simple matter of fairness,” Chiusano said. “When government devalues land to preserve open space, farmland or water sources, property owners deserve to be compensated at values that reflect what the land was worth before it was restricted from development.” 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. The measure was released by the Environment committee 7-0 on Thursday. “Property owners in the Highlands lost tremendous equity and are still waiting to be compensated,” McHose said. “Allowing this appraisal process to expire would be yet another insult to people who have already lost so much.” 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.