Taxes and land value could be a 'here-there' sort of thing. 'Here', anything in WRP or CRP is still assessed the same as if it were not in a program, because NJ doesn't take into account income from the land, just what they think the land is worth. So if it makes $50 or $5000 an acre, taxes are the same. I've not had experience with WRP. CRP transfers when the land is sold, and it may not lower the value. The new owner can just simply wait out the contract term. There is a farm near here that just did that. The developer who bought it did so 8 years ago when the market was 'hot', and sat on the CRP until it expired last year. . . but in the process hosed himself because land values have deflated due to the new housing market going bust . . . so he has leased it out to a nearby farmer waiting for things to improve. Now, if you go into something more permanent, like a CREP program for reforestation or something to that effect, it may very well devalue the property.
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