Ch. 552

LAWS OF MARYLAND

(i) files with the supervisor before the
transfer a declaration of intent to farm the land that specifies
that part of the agricultural land will remain in farm or
agricultural use for at least 5 full consecutive taxable years;
[and]

(II) FOR A PARCEL THAT CAN BE FURTHER
SUBDIVIDED INTO 2 OR MORE PARCELS, PROVIDES THE SUPERVISOR WITH A
SURVEY THAT ACCURATELY IDENTIFIES THE LOCATION OF THE LAND AND
THE AMOUNT OF ACREAGE THAT IS SUBJECT TO THE DECLARATION OF
INTENT; AND

[(ii)] (III) applies for farm or agricultural
use assessment for part of the agricultural land that is
transferred.

(2)  The agricultural land transfer tax applies to the
value of the land not subject to the declaration of intent,
exclusive of the items stated in § 13-304.

(3)  For the purpose of paragraph (2) of this
subsection, the supervisor:

(i) shall determine the FAIR MARKET value of
the land not subject to the declaration [on the date of transfer]
OF INTENT AS OF THE MOST RECENT JULY 1 AND PROVIDE THE TRANSFEREE
WITH A NOTICE OF THAT VALUE, WHICH THE TRANSFEREE MAY APPEAL AS
PROVIDED BY § 8-404 OF THIS ARTICLE; and

(ii) [give the grantor at the time of transfer
a notice of the value of the land, which the grantor may protest
as provided by § 8-404 of this article] CALCULATE THE AMOUNT OF
THE TAX DUE BY MULTIPLYING THE FAIR MARKET VALUE OF THE LAND
SUBJECT TO THE TAX BY THE RATE OF THE TAX PROVIDED UNDER § 13-303
OF THIS ARTICLE.

(4)  If there is a failure to comply with a
declaration of intent filed under paragraph (1) of this
subsection or a failure to qualify for the farm or agricultural
use assessment under § 8-209 of this article during the time that
a declaration of intent is in effect, the agricultural land
transfer tax [that would have been payable at the date of
transfer], PLUS PENALTY, IS DUE on the land subject to the
declaration of intent [is due plus interest at an annual rate of
12%].

(5)  The tax and [interest] PENALTY due under
[paragraph (4) of this subsection] THIS SUBSECTION are a lien on
the agricultural land that was transferred. The [lien is] TAX
AND PENALTY ARE due on the earlier date of:

(i) the date on which property tax on the
agricultural land is due under § 10-102 of this article; or

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