2948

LAWS OF MARYLAND

Ch. 573

THE 5-YEAR PERIOD COVERED BY THE DECLARATION OF INTENT WILL
RESULT IN THE IMPOSITION OF THE AMOUNT OF AGRICULTURAL TRANSFER
TAX THAT WOULD HAVE BEEN DUE AT THE TIME OF TRANSFER, PLUS
INTEREST AT THE RATE OF 12 PERCENT PER YEAR. THE AMOUNT OF TAX
AND INTEREST DUE SHALL BECOME A LIEN ON THE PROPERTY AND SHALL BE
DUE THE SAME TIME THE REAL PROPERTY TAXES ARE DUE IN ACCORDANCE
WITH THE PROVISIONS OF § 48 OF THIS ARTICLE OR UPON TRANSFER OF
ALL OR A PORTION OF THE LAND PRIOR TO THE DATE REAL PROPERTY
TAXES ARE DUE.

(3) Land or interests in land transferred to the
State of Maryland.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984 and that the provisions of this Act
shall apply to assessments effective for the July 1, 1985 taxable
year and thereafter. It is the intent of the General Assembly
that, in the instance of parcels of land of less than 20 acres
which were subdivided after July 1, 1972, the gross income
provisions of this Act shall apply for all assessments effective
for the July 1, 1985 taxable year, regardless of the year of
physical inspection under the provisions of the triennial
assessment system. In the instance of parcels of land of less
than 20 acres which were subdivided on or before July 1, 1972,
the gross income provisions of this Act shall be applied in
accordance with the year of review under the triennial assessment
system.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 574

(Senate Bill 896)

AN ACT concerning

Agricultural Transfer Tax

FOR the purpose of altering the definition of total full cash
value in relation to the Agricultural Transfer Tax.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 278F(d)

Annotated Code of Maryland

(1980 Replacement Volume and 1983 Supplement)