2130                                          LAWS OF MARYLAND                                      Ch. 606

(J) IN THE EVENT THE COUNTY OR MUNICIPALITY FAILS TO RAISE
OR TO PAY TO THE STATE ITS PERCENTAGE OF THE COSTS OF A PROJECT
AS ESTABLISHED BY A FINANCING PLAN OR ANY PORTION THEREOF WITHIN
6 MONTHS OF THE CERTIFICATION OF COSTS BY THE STATE COMPTROLLER,
THE STATE COMPTROLLER SHALL CAUSE TO BE WITHHELD FROM
STATE-COLLECTED, LOCALLY SHARED TAXES, AND, TO THE EXTENT
NECESSARY, FROM THE STATE GRANT PROVIDED FOR BY ARTICLE 81,
SECTION 12H AND THE STATE AID FOR POLICE PROTECTION PROVIDED BY
ARTICLE 15A, SECTION 3 TO WHICH THE COUNTY OR MUNICIPALITY WOULD
OTHERWISE BE ENTITLED, FOR THE FOLLOWING FISCAL YEAR, A SUM
SUFFICIENT TO REIMBURSE THE STATE FOR ANY SUM REMAINING UNPAID,
TOGETHER WITH INTEREST ON ANY SUCH UNPAID AMOUNT AT THE RATE OF
10 PERCENT PER ANNUM FROM THE DATE OF SUCH CERTIFICATION BY THE
STATE COMPTROLLER.

8-1105.3.

AN APPRAISER FOR THE DEPARTMENT, THE TRIER OF FACT IN ANY
CONDEMNATION PROCEEDING, OR ANY OTHER PERSON CHARGED BY LAW TO
DETERMINE FAIR MARKET VALUE, SHALL CONSIDER THE FOLLOWING AMONG
OTHER RELEVANT FACTORS IN DETERMINING THE FAIR MARKET VALUE OF
ANY INTEREST IN LAND BEING ACQUIRED TO IMPLEMENT § 8-1105.2 OF
THIS SUBTITLE:

(1) THE DATE OF VALUATION SHALL BE DETERMINED
RECOGNIZING THAT THE STATE MAY HAVE TAKEN PROPERTIES AS OF THE
DATE THAT PROHIBITIONS WERE IMPOSED FOR THE BEACH EROSION CONTROL
DISTRICT UNDER § 8-1105.1 OF THIS SUBTITLE;

(1) (2) IF THE LAND LIES WITHIN THE BEACH EROSION
CONTROL DISTRICT ESTABLISHED PURSUANT TO § 8-1105.1 OF THIS
SUBTITLE, IT SHALL BE VALUED SUBJECT TO THE RESTRICTIONS OF §
8-1105.1; PROVIDED, HOWEVER, THAT IF IT APPEARS THAT THE OWNER IS
ENTITLED TO COMPENSATION FOR A TAKING UNDER THE PROVISIONS OF §
8-1105.1(C), THEN THE PROPERTY SHALL BE VALUED AS IF THE
RESTRICTIONS OF § 8-1105.1 WERE NOT IN EFFECT, BUT ALL OTHER
APPLICABLE RESTRICTIONS OF STATE AND LOCAL LAW WERE, INCLUDING
BUT NOT LIMITED TO:

(I)  BUILDING CODES;

(II)  ZONING;

(III)  PUBLIC RIGHTS ACROSS THE PROPERTY
ACQUIRED THROUGH DEDICATION OR PRESCRIPTION;

(IV)  EASEMENTS FOR DUNE CONSTRUCTION AND
MAINTENANCE; AND

(V)  DENSITY LIMITATIONS.

(2) (3) IF FAIR MARKET VALUE IS TO BE BASED ON AN
ASSUMPTION THAT THE LAND CAN BE DEVELOPED, THE COSTS OF THAT
DEVELOPMENT SHALL BE ESTIMATED ASSUMING THE RISK OF STORM DAMAGE
WITH THE BEACH IN ITS CONDITION AS OF THE DATE OF VALUATION, AND