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PARRIS N. GLENDENING, Governor
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Ch. 199
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(ii) timber is harvested, unless harvested according to the plan
approved by the Department of Natural Resources;
(iii) land subject to an agreement is conveyed to a new owner except
as provided in subsection (g) of this section; or
(iv) an agreement is ended by the Department of Natural Resources
at the request of the owner or because the owner has not complied with the
agreement.
(2) If only part of the land subject to an agreement is conveyed or only
part of the timber is harvested, the reassessment shall be only for the part of land
conveyed or the part of land on which the timber is harvested.
(j) If the assessment under subsection (i)(1)(ii) through (iv) of this section is
greater than the value used to determine the assessment under subsection (h) of this
section, the difference between the 2 valuations is computed in approximately equal
annual steps that cover the number of taxable years between the 2 valuations, and
the agreement holder owes property tax for each taxable year payable at the property
tax rates applicable for each taxable year.
(k) (1) Subject to the provisions of this subsection and any pertinent local
laws, a woodland owner who has 50 or more contiguous acres subject to an agreement
may subdivide the property and transfer to a child of the owner a building lot for the
purposes of constructing a dwelling unit on the lot without liability for prior taxable
years under subsection (j) of this section.
(2) A building lot transferred under this subsection may not exceed:
(i) 1 acre; or
(ii) if local law or regulations adopted by the Department of the
Environment require that the minimum size of a building lot exceed 1 acre, the
minimum size required under local law or regulations adopted by the Department of
the Environment.
(3) A woodland owner may not transfer under this subsection more than
one building lot for every 10 acres subject to the agreement or more than one building
lot to each child of the owner.
(4) (i) A woodland owner shall apply to the Department of Natural
Resources for a modification of an agreement under this subsection.
(ii) On approval by the Department of Natural Resources, the
woodland owner shall notify the supervisor of the county where the land is located.
(iii) The supervisor shall reassess that portion of the property
removed from the program and establish the property as a separate account in the
assessment records of the county.
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- 1733 -
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