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2006 LAWS OF MARYLAND
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Ch. 192
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sell, would accept for the property, and which a purchaser, willing but not obligated to
buy, would pay for the property if the property was not subject to any restriction
imposed under this subtitle.
(c) The agricultural value of land is the price as of the valuation date which a
vendor, willing but not obligated to sell, would accept for the property, and which a
purchaser, willing but not obligated to buy, would pay for the property as a farm unit,
to be used for agricultural purposes.
(d) (1) (i) The value of the easement is determined at the time the
Foundation is requested in writing to purchase the easement.
(ii) The fair market value shall be determined by the Department of
General Services based on one or more appraisals by the State appraisers, and
appraisals, if any, of the landowner.
(iii) The entire contiguous acreage shall be included in the
determination of the value of the easement, less 1 acre per single dwelling; however,
except as provided in § 2-513(b)(2) of this subtitle, the entire contiguous acreage,
including the 1 acre per single dwelling, is subject to the easement restrictions.
(2) (i) Subject to subparagraph (ii) of this paragraph, the agricultural
value of land shall be determined by a formula approved by the Department that
measures the farm productivity of the land on which the applicant has applied to sell
an easement by taking into consideration weighted factors that may include rents,
location, soil types, development pressure, interest rates, and potential agricultural
use.
(ii) The agricultural value determined under subparagraph (i) of
this paragraph is subject to the approval of the Department.
(E) (1) THIS SUBSECTION APPLIES TO LAND THAT;
(I) HAS NO RESIDENTIAL DEVELOPMENT VALUE AS DETERMINED
BY THE DEPARTMENT OF GENERAL SERVICES;
(II) IS AS LEAST 100 ACRES IN SIZE; AND
(III) HAS AT LEAST 75% CLASS I OR II SOILS, OR WOODLAND
EQUIVALENTS, AS ESTABLISHED BY THE LAND CAPABILITY CLASSIFICATION SYSTEM
OF THE NATURAL RESOURCES CONSERVATION SERVICE OF THE U.S. DEPARTMENT
OF AGRICULTURE.
(2) FOR LAND THAT MEETS THE REQUIREMENTS UNDER PARAGRAPH (1)
OF THIS SUBSECTION, THE DEPARTMENT OF GENERAL SERVICES MAY DETERMINE
THE FAIR MARKET VALUE OF THE LAND.
[(e)] (F) (1) [If] EXCEPT FOR LAND VALUED IN ACCORDANCE WITH
SUBSECTION (E) OF THIS SECTION, IF the landowner and Foundation do not agree on
the value of the easement as determined by the State, either the landowner or the
Foundation may request, no later than September 30 of the year following the
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