3256

LAWS OF MARYLAND

Ch. 808

(2) THE LAND WAS SUBJECT TO THE DEVELOPMENT TAX
AND THE TAX WAS ASSESSED UNDER THE PROVISIONS OF CHAPTER 702
OF THE ACTS OF 1979, AS AMENDED FROM TIME TO TIME.

(B)  THE RATE OF THE TAX IMPOSED BY THIS SECTION IS S
PERCENT.:

(1)  5 PERCENT WHEN THE LAND, AT THE TIME OF
TRANSFER, IS ASSESSED BASED ON ITS AGRICULTURAL USE; OR

(2)  4 PERCENT WHEN THE LAND BEING TRANSFERRED IS
ASSESSED ON THE BASIS OF NONAGRICULTURAL USE. FURTHER, THE
RATE SHALL BE REDUCED BY 1 PERCENTAGE POINT FOR EACH
CONSECUTIVE FULL TAXABLE YEAR IN WHICH REAL PROPERTY TAXES
WERE PAID ON THE BASIS OF A NONAGRICULTURAL USE ASSESSMENT.

(C)  THE TAX IMPOSED BY THIS SECTION SHALL BE LEVIED ON
THE GREATER OF:

(1) THE ACTUAL CONSIDERATION PAID OR TO BE PAID
FOR THE CONVEYANCE OF TITLE, LESS THE TOTAL FULL CASH VALUE
OF ANY IMPROVEMENTS TO THE PROPERTY OR ANY LAND NOT SUBJECT
TO THE TAX; OR.

(2) THE TOTAL FULL CASH VALUE OF THE LAND
SUBJECT TO THE TAX, LESS THE TOTAL FULL CASH VALUE OF ANY
IMPROVEMENTS.

(D) (1) "TOTAL FULL CASH VALUE" MEANS THE FULL CASH
VALUE OF THE PROPERTY AS DETERMINED BY THE DEPARTMENT AS OF
THE MOST RECENT ANNUAL OR SEMIANNUAL DATE OF FINALITY,
UNLESS THE FULL CASH VALUE IS UNDER APPEAL AT THE TIME OF
TRANSFER. IN THE CASE OF AN APPEAL, THE FULL CASH VALUE IS
THE VALUE MOST RECENTLY DETERMINED BY THE FINAL ASSESSING
AUTHORITY.

(2) IF LAND IS BEING TRANSFERRED WITH
IMPROVEMENTS THAT HAVE NOT BEEN PREVIOUSLY VALUED OR
ASSESSED BY THE DEPARTMENT, THE GRANTOR SHALL NOTIFY THE
DEPARTMENT AT LEAST 7 DAYS BEFORE THE TRANSFER. THE
DEPARTMENT SHALL ESTIMATE THE FULL CASH VALUE OF THESE
IMPROVEMENTS AS OF THE DATE OF TRANSFER. THE ESTIMATED FULL
CASH VALUE OF THE IMPROVEMENTS SHALL BE USED IN ACCORDANCE
WITH THE PROVISIONS OF SUBSECTION (C) OF THIS SECTION. A
NOTICE OF THE ESTIMATED VALUE OF THE IMPROVEMENTS SHALL BE
PROVIDED TO THE GRANTOR AT THE TIME OF TRANSFER AND THE
GRANTOR HAS THE SAME RIGHTS OF APPEAL AS ARE AVAILABLE TO
PROPERTY OWNERS RECEIVING AN ASSESSMENT NOTICE UNDER THIS
ARTICLE.

(E)  IF CERTAIN PORTIONS OF THE PROPERTY ARE SUBJECT TO
DIFFERENT RATES OF TAX AS PROVIDED IN SUBSECTION (B) OF THIS
SECTION, THE DEPARTMENT SHALL COMPUTE THE TOTAL TAX DUE BY
SEPARATELY CALCULATING THE VARIOUS RATES.

(F)  THE TAX IMPOSED BY THIS SECTION IS NOT APPLICABLE
TO: