HARRY HUGHES, Governor

2511

Upon final determination of any appeal, any money paid by
the taxpayer in excess of the amount properly chargeable under
the determination, shall be refunded with interest at the rate of
six per cent. (6%) per annum from the date of payment to the
date of refund. The sources of refund shall be as specified in
the applicable provisions of §§ [213] 215 to 219, inclusive, of
this article, however, for tax bills issued after July 1, 1977,
upon final determination of any appeal, any money paid by the
taxpayer in excess of the amount properly chargeable under the
determination, shall be refunded with interest at the same rate
of interest which taxes bear that are determined to be overdue
and in arrears, as provided in this article.

Article - Agriculture

2-511.

The maximum value of any easement to be purchased shall be
the asking price or the difference between the fair market value
of the land and the agricultural value of the land, whichever is
lower.

(1)  The fair market value of the land is the price as
of the valuation date for the highest and best use of the
property 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 if the property was
not subject to any restriction imposed under this subtitle.

(2)  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.

(3)  The value of the easement is determined at the
time the foundation is requested in writing to purchase the
easement. The value shall be determined by the foundation based
on one or more appraisals by the State appraisers, and
appraisals, if any, of the landowner. The value of the easement
is determined by an appraisal on the entire contiguous acreage,
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.

(4)  If the landowner and foundation do not agree on
the value of the easement as determined by a State appraisal,
either the landowner or the foundation may request that the
matter be referred to the [county board of review] PROPERTY TAX
ASSESSMENT APPEAL BOARD as [established under Article 81, § 248]
PROVIDED UNDER § 3-107 OF THE TAX - PROPERTY ARTICLE, for
arbitration as to the value of the easement. The value determined
by that arbitration shall be binding upon the owner and the