Freeholders Approve $1 Million Open Space Purchase for Property Assessed at $480,000

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TOMS RIVER-The Ocean County Board of Chosen Freeholders have their eyes set on a 4 bedroom, 3 bath, 2,700 square foot home on New Hampshire Avenue in Toms River’s North Dover section and have approved funding to purchase the home and its 9.77 acres of land for no more than $1,025,850.

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“Accepting the recommendation of the OC Natural Lands Trust Fund Advisory Committee and the Ocean County Agriculture Development Board to participate in the fee-simple acquisition of property identified as Block 390, Lot 11, totaling approximately 9.77 acres, located on New Hampshire Avenue in Toms River Township, in a total amount not to exceed $1,025,850.00 plus up to $2,750.00 for property tax adjustments,” a resolution by the board read.

The property is in the rapidly developing North Dover section of town and was assessed at $480,000 by the township.

Taxes for the property ar $11,320 per year.

1868 New Hampshire Avenue currently owned by Rosalie Fleischer, Etals-Trustee is a single-family home built in 1982. This property was last sold for $20,350 in 2000 and currently has an estimated value of $469,500.

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Zillow estimates the home to be valued at $579,126.

Funding would be provided by the Ocean County Natural Lands Trust.  The Freeholders have recently announced they will seek a referendum vote to allow funding from that account in the future to be used on projects other than the acquisition of open space.

By purchasing the land and home, it would prevent the land from being sold to a developer and subdivided.  The freeholders did not say what they would do with the property once purchased.