Section 13-304 - Calculation of tax; improvements valued. - Maryland Statutes

§ 13-304. Calculation of tax; improvements valued.
 

(a)  Calculation of tax.- The agricultural land transfer tax is imposed on the consideration payable for the instrument of writing less: 

(1) the total value of any improvements on the property; and 

(2) the total value of any land not subject to the agricultural land transfer tax. 

(b)  Valuation of improvements.-  

(1) If an instrument of writing transfers agricultural land with an improvement that has not been assessed by the supervisor, the grantor shall notify the supervisor at least 7 days before the date of transfer. 

(2) For the purposes of paragraph (1) of this subsection, the supervisor shall: 

(i) determine the estimated total value of the improvements on the most recent date of finality; and 

(ii) give the grantor at the time of the transfer a notice of the estimated value of the improvements. 

(3) The grantor may appeal the estimated total value stated in the notice as provided by § 8-407 of this article. 
 

[An. Code 1957, art. 81, § 278F; 1985, ch. 8, § 2; 1988, ch. 552; 1989, ch. 5, § 1.]