1. New Jersey Division of Taxation. “Farmland Assessment Act of 1964: Tenth Report of Data from FA-1 Forms for 1978 Tax Year.” September 1978.
2. This process appeared reasonable, given the relatively low correlation coefficients among the independent variables. As each variable was dropped, the results were scrutinized to attempt to detect multicollinearity problems. Some multicollinearity may exist between parcel size and the variables representing corporate purchaser, percent cropland, distance to population center, and distance to commercial parcel. For a fuller discussion, see Northcraft.
3. Some of these transfers were probably not legitimate market transfers, but rather involved changes in title with no change in the effective control of the land. Others were legitimate market transfers, but for which the total consideration involved aspects other than the purchase price. While it would be desireable to include these transactions in the analysis (using the full consideration as the transfer price), it is not feasible to obtain accurate information on the full consideration. The exclusion of these transfers may bias the results of the analysis, but the nature and direction of that bias are unknown.
4. New Jersey Department of Labor and Industry. Division of Planning and Research. New Jersey Residential Buildings Permits: Annual Summary, various years.