(a) Creation. There is a 10-year tax credit from County real property taxes levied on agricultural land and woodland if the property is included in an agricultural preservation district as provided in the Agriculture Article, § 2-509, of the State Code, or a County agricultural district as provided in §§ 17-10-201 et seq. of this Code and the landowner has agreed to remain in the district for at least 10 years.
(b) Time for filing application. An application for the tax credit created by this section shall be filed on or before October 1 of the first taxable year for which the 10-year tax credit is sought. If the application is filed after October 1, the credit shall be disallowed that year but shall be treated as an application for a tax credit for the next succeeding taxable year.
(c) Form of application. An application for the tax credit shall be submitted to the Controller on forms that the Office of Finance requires; be accompanied by proof that the landowner has entered into a binding agreement with the State or County to retain the landowner's property in an agricultural preservation district or a County agricultural district for 10 years commencing with the year in which application is made; and be under oath, containing a declaration preceding the signature of the applicant to the effect that it is made under the penalties of perjury provided by the Tax-Property Article, § 1-201, of the State Code.
(d) Review by Planning and Zoning. The Office of Planning and Zoning shall review each application for a tax credit and certify that the property qualifies for the credit.
(e) Calculation. The tax credit shall be calculated and credited based on the total taxable assessment on land that is subject to an agricultural use assessment and up to $250,000 of the total taxable assessment on all buildings on the property.
(f) Reapplication. At the end of the 10-year period, if the landowner elects to remain in the district for an additional 10 years and enters into a binding agreement with the State or County, the landowner may reapply for the tax credit.
(g) Termination. If a landowner terminates a property as an agricultural preservation district or a County agricultural district before the expiration of any 10-year period without the approval of the State or County, the landowner shall be liable for all property taxes that any owner of the property would have been liable for if the property tax credit had not been granted under this section and interest and penalties on those taxes computed as provided under § 4-1-103. The granting of an easement to the County or Maryland Agricultural Land Preservation Foundation does not terminate the tax credit.
(1985 Code, Art. 6, § 1-104.1) (Bill No. 49-89; Bill No. 46-90; Bill No. 54-90; Bill No. 50-01; Bill No. 23-04; Bill No. 69-16; Bill No. 17-20)