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§ 13-304. Computation

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 13. Transfer Taxes
Subtitle 3. Agricultural Land Transfer Tax (Refs & Annos)
MD Code, Tax - Property, § 13-304
§ 13-304. Computation
In general
(a) 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.
Notice of improvements; assessment
(b)(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.

Credits

Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1988, c. 552; Acts 1989, c. 5, § 1.
Formerly Art. 81, § 278F.
MD Code, Tax - Property, § 13-304, MD TAX PROPERTY § 13-304
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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