Why is payment being deferred as late as 2036?
The year 2036 is the last year of a special county tax that went into effect in 1997 and 1999, authorizing the county freeholders to annually levy four cents per $100 assessed equalized value. Money generated by these taxes is being used to purchase easements for farmland, historic, and open space preservation. By deferring the payment of principal, the county can maximize its leveraging of anticipated tax revenues.

Show All Answers

1. What is an installment purchase agreement (IPA)?
2. How does the sale of my easement change with an installment purchase agreement?
3. Why is the county using installment purchase agreements for easement purchases?
4. How can structuring payment through an installment purchase agreement benefit me?
5. Why is payment being deferred as late as 2036?
6. What is the interest rate that I will earn under the installment purchase agreement?
7. If payment for my easement is deferred, does this mean that the easement will not be effective until 2036?
8. What happens if I sell the property before 2036?
9. Can I sell or transfer the installment purchase agreement?
10. If my property increases in value between the time that I sign the easement and the year 2036, will the county pay me more for my easement?
11. What happens if I am willing to sell but only want to sell for a cash payment?
12. Will structuring payment of the purchase price through the installment purchase agreement cost me money?
13. Can I use the county's advisers to assist me in selling my easement to the county with an installment purchase agreement?
14. How do I know that the county will have enough money to pay me in the year 2036, and what happens if the county (or its paying agent) fails to make an interest payment to me?
15. How can I find out more about installment purchase agreements?