New Jersey § 55:19-102
Full text of New Jersey New Jersey Statutes § 55:19-102, with citation guidance and answers to common questions.
§ 55:19-102.
With respect to any eminent domain proceeding carried out under section 37 of P.L.1996, c. 62 ( C.55:19-56 ), the fair market value of the property shall be established on the basis of an analysis
which determines independently: a. the cost to rehabilitate and reuse the property for such purpose as is appropriate
under existing planning and zoning regulations governing its reuse or to demolish
the existing property and construct a new building on the site, including all costs
ancillary to rehabilitation such as, but not limited to, marketing and legal costs; b. the realistic market value of the reused property after rehabilitation or new construction,
taking into account the market conditions particular to the neighborhood or subarea
of the municipality in which the property is located; and c. the extent to which the cost exceeds or does not exceed the market value after
rehabilitation, or demolition and new construction, and the extent to which any “as
is” value of the property prior to rehabilitation can be added to the cost of rehabilitation
or demolition and new construction without the resulting combined cost exceeding the
market value as separately determined. If the appraisal finds that the cost of rehabilitation or demolition and new construction,
as appropriate, exceeds the realistic market value after rehabilitation or demolition
and new construction, there shall be a rebuttable presumption in all proceedings under
this subsection that the fair market value of the abandoned property is zero, and
that no compensation is due the owner.
Frequently Asked Questions About New Jersey § 55:19-102
What does New Jersey Statutes § 55:19-102 cover?
Section 55:19-102 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 55:19-102?
A common citation format is "New Jersey Statutes § 55:19-102" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 55:19-102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.