MARVIN MANDEL, Governor                      1097

UNDER THIS SUBSECTION. SUCH CRITERIA SHALL BE
PROMULGATED IN RULES AND REGULATIONS WHICH
SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO, THE
FOLLOWING:

(I)  ZONING APPLICABLE TO THE LAND.

(II)  PRESENT AND PAST USE OF THE LAND INCLUDING
LAND UNDER THE SOIL BANK PROVISIONS OF THE AGRI-
CULTURAL STABILIZATION ACT OF THE UNITED STATES
GOVERNMENT.

(III)  PRODUCTIVITY OF THE LAND INCLUDING TIMBER-
LANDS AND LANDS USED FOR REFORESTATION.

(2) FROM AND AFTER JULY 1, 1969, LANDS (I) THAT
ARE ACTIVELY DEVOTED TO AGRICULTURAL USE, (I)
WHICH ARE, OR HAVE BEEN, ZONED TO A MORE INTEN-
SIVE USE AT THE INSTANCE OF AN OWNER OR (II) LANDS
FOR WHICH A SUBDIVISION PLAT IS OR HAS BEEN RE-
CORDED SHALL BE VALUED AND ASSESSED ACCORDING
TO SUCH AGRICULTURAL USE AND IN ADDITION SHALL
BE VALUED ON THE BASIS OF THE FULL CASH VALUE OF
SUCH LANDS, AND BOTH VALUES SHALL BE RECORDED IN
THE ASSESSMENT RECORDS. BOTH ASSESSMENT VALUES
SHALL BE SUBJECT TO THE SAME NOTICE AND APPEAL
PROCEDURES AS PROVIDED FOR ALL REAL PROPERTY
ASSESSMENTS UNDER THE PROVISIONS OF THIS ARTICLE,

THESE LANDS SHALL BE TAXED UPON THE BASIS OF
THE AGRICULTURAL USE VALUE ASSESSMENT AS LONG
AS THEY CONTINUE TO BE ACTIVELY DEVOTED TO FARM
OR AGRICULTURAL USE. UPON (I) THE SALE OF A LOT
OR PORTION OF SUCH LANDS OR (II) THE CONVERSION
OF THE USE OF A PORTION OR ALL OF SUCH LAND TO
NON-AGRICULTURAL USE, A DEFERRED TAX SHALL BE-
COME DUE ON THE LOT OR PORTION SOLD OR CONVERTED,
WHICH SHALL BE EQUAL TO THE TAX WHICH WOULD
HAVE BEEN PAID IF THE TAX HAD BEEN COMPUTED ON
THE BASIS OF THE "FULL CASH VALUE" ASSESSMENT
FOR THE TIME THE DUAL ASSESSMENT HAS BEEN RE-
CORDED BUT NOT TO EXCEED A PERIOD OF THREE YEARS,
LESS THE TAX ACTUALLY PAID ON THE LANDS BASED
UPON ITS AGRICULTURAL USE VALUE ASSESSMENT FOR
THIS PERIOD. IN NO EVENT SHALL THE DEFERRED TAX
EXCEED FIVE PER CENT (5%) OF THE "FULL CASH
VALUE" ASSESSMENT IN EFFECT AT THE TIME OF SUCH
SALE OR CONVERSION.

(f)

(1) For the purpose of establishing a policy for the orderly transi-
tion of lands from agricultural to more intensive uses, the General
Assembly authorizes the creation of land reservations whereby lands
reserved as maintained open spaces may be given special assessment
and taxation consideration as provided for by this section. Any
county government, after a public hearing with due notice, may allow
lands to be put in reservation for periods of not less than five years.

Such reserved lands shall be kept as open spaces and shall be prop-

erly maintained so as not to be detrimental to the attractiveness or