2706

JOINT RESOLUTIONS

No. 69

States to recognize the inequities in estate tax

evaluations of farmlands, to request that Body's

immediate consideration of the various measures now

pending, and to enact legislation which will make

estate taxes on farmlands more equitable.

WHEREAS, Individual farmlands, in Maryland and

across the nation, have steadily decreased over the past
thirty years with no reversal of this trend in sight; and

WHEREAS, Many individual owners are forced to sell
their farmlands, in whole or in part, because of
inability to pay estate taxes; and

WHEREAS, Estate taxes are often unfair because
farmlands are evaluated at "fair market value" rather
than agricultural value; and

WHEREAS, Fair market value is often misleading
because farmlands near cities or towns are evaluated for
their potential urban development rather than their
actual agricultural use; and

WHEREAS, Inflation has also increased the valuation
of farmlands while the exemption figure in estate taxes
has remained static; and

WHEREAS, Legislation on the Federal level has been
introduced to ameliorate the burden of estate tax
valuations on farmlands; now, therefore, be it

RESOLVED BY THE GENERAL ASSEMBLY OF MARYLAND, That
the General Assembly [[consider the inequities of estate
tax valuations on farmlands, and enact legislation which
will raise the exemption figure for farmlands in estate
taxes, and evaluate, for purposes of estate taxes, all
farmlands for their agricultural value rather than the

fair market value]] respectfully petitions__the Congress

of the United States to enact appropriate legislation to

raise the exemption figure in estate taxes, and to

evaluate, for the purposes of estate taxes, all farmlands

for their agricultural value rather than the fair or

potential market value; and be it further

RESOLVED, That [[copies of this Resolution be
distributed to the Chief Clerk of the House of Delegates
and to the Secretary of the Senate for distribution to
all Members of the General Assembly.]] a copy of this

Resolution be sent to the Maryland Congressional

Delegation: Senators Charles McC. Mathias, Jr., and J.

Glenn Beall, Jr.,__Senate Office Building, Washington,

D.C. 20510; and Representatives Robert E. Bauman,

Clarence D. Long, Paul S. Sarbanes, Marjorie S. Holt,

Gladys N. Spellman, Goodloe E. Byron, Parren J. Mitchell,

and Gilbert Gude,__House Office Building, Washington, D.C.

20515.

Approved May 17, 1976.