1096                            LAWS OF MARYLAND                      [CH. 433

health of the area. While reserved land is used in accordance with

its reservation, it shall be taxed under an assessment on the basis of
such use and shall not be taxed or assessed otherwise.

(2) A deferred assessment shall also be recorded on reserved land
based on its fair market value. If reserved land is used for a purpose
not in accordance with its reservation, a tax shall become due on the
land equal to one hundred and fifty percent (150%) of the difference

between the tax paid, while the land was reserved, and a tax based

on the total deferred assessment during the reserved period. The

deferred assessment shall be subject to the same notice and appeal
requirements as other real estate assessments and shall be collected

by the county treasurer or tax collector's office for the use of the

county government.

(1)  THE GENERAL ASSEMBLY HEREBY DECLARES IT
TO BE IN THE GENERAL PUBLIC INTEREST TO ENCOUR-
AGE AND FOSTER THE DEVELOPMENT OF LANDS IN A
PLANNED MANNER, THE ASSEMBLY OF LANDS FOR SUCH
DEVELOPMENT, COOPERATION OF LANDOWNERS, AND
THE HOLDING OF LANDS FOR ORDERLY AND STAGED
IMPROVEMENT IN ACCORDANCE WITH GOVERNMENTAL-
LY APPROVED PLANS; PARTICULARLY FOR THE PUR-
POSES OF DEVELOPMENT OF NEW TOWNS, CITIES, OR
SATELLITE CITIES. IN ORDER TO PROMOTE SUCH DEVEL-
OPMENT AND OBTAIN THE ECONOMIC AND ENVIRON-
MENTAL ADVANTAGES TO BE REALIZED THEREBY AND
TO FACILITATE THE LAND ASSEMBLY, COOPERATION
AMONG LANDOWNERS, AND THE HOLDING OF LAND UN-
DEVELOPED FOR PERIODS OF TIME SUFFICIENT TO PER-
MIT SUCH ORDERLY AND STAGED DEVELOPMENT, AND
TO PREVENT PREMATURE DEVELOPMENT OF SUCH LAND
CAUSED BY ECONOMIC PRESSURE RESULTING FROM
ASSESSMENT AT A LEVEL INCOMPATIBLE WITH THE
HOLDING, STAGING OF DEVELOPMENT, AND LANDOWNER
COOPERATION FOR SUCH PLANNED PURPOSES, SUCH
LANDS SHALL BE ASSESSED AND TAXED IN ACCORDANCE
WITH THIS SUBSECTION.

(2)  LANDS TO BE ASSESSED AND TAXED IN ACCORD-
ANCE WITH THIS SUBSECTION SHALL BE ONLY THOSE
LANDS WHICH MEET THE FOLLOWING CRITERIA:

A.  SITUATED IN AN AREA SHOWN ON A CURRENT MAS-
TER PLAN, A GENERAL OR REGIONAL PLAN, OR OTHER-
WISE DESIGNATED FOR DEVELOPMENT AS A NEW TOWN,
CITY, OR SATELLITE CITY, ADOPTED BY THE GOVERN-
MENTAL AUTHORITY HAVING PLANNING OR ZONING
JURISDICTION THEREOVER, AND

B. ZONED IN A ZONING CLASSIFICATION (I) PERMITTING
DEVELOPMENT ONLY IN COMPLIANCE WITH PLANS RE-
FERRED TO IN SUBPARAGRAPH (2)-A ABOVE, (II) REQUIR-
ING A LAND USE PLAN, AND (II) A COMPREHENSIVE SITE
DEVELOPMENT OR SUBDIVISION PLAN, BOTH OF WHICH
SHALL CONSIDER LAND USE, UTILITY REQUIREMENTS,
HIGHWAY NEEDS, WATER AND SEWERS, INDUSTRIAL USE,
ECONOMIC AND JOB OPPORTUNITIES, RECREATION AND
CIVIC LIFE AND BE APPROVED PRIOR TO DEVELOPMENT