HARRY HUGHES, Governor                                       475

described real property. It is revised as a
definition of "agricultural land", for clarity.

Defined terms: "Assess" § 1-101
"Real property" § 1-101

(C)  AGRICULTURAL LAND TRANSFER TAX.

"AGRICULTURAL LAND TRANSFER TAX" MEANS THE TAX IMPOSED UNDER
THIS SUBTITLE.

REVISOR'S NOTE: This subsection is new language added to
avoid repetition of phrases such as "the agricultural
land transfer tax imposed under § 13-301 of this
subtitle".

(D)  TOTAL VALUE.

(1)  "TOTAL VALUE" MEANS THE VALUE OF AGRICULTURAL
LAND AS STATED IN THE MOST RECENT ASSESSMENT ROLL.

(2)  "TOTAL VALUE" INCLUDES ANY ADJUSTMENT IN THE
VALUE OF IMPROVEMENTS THAT RESULT FROM AN INCREASE IN
CONSTRUCTION COSTS AS DETERMINED BY THE DEPARTMENT AS OF THE MOST
RECENT DATE OF FINALITY.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from former Art. 81, §
278F(d)(l).

In item (1) of this subsection, the words "total
value" are substituted, as the defined term, for the
former words "total full cash value", for brevity
since the words "full cash" are unnecessary in light
of their use in the defined term "value".

Also in item (1) of this subsection, the reference to
the value "as determined by the Department" is deleted
as included in the reference to "as stated in the most
recent assessment roll".

Defined terms: "Agricultural land" § 13-301
"Agricultural transfer tax" § 13-301

"Assessment roll" § 1-101 "Date of finality" § 1-101
"Department" § 1-101 "Includes";"including" § 1-101
"Value" § 1-101

13-302. IMPOSITION OF TAX; PAYMENT OF TAX.

(A) TAX IMPOSITION.

EXCEPT AS OTHERWISE PROVIDED IN § 13-305 OF THIS SUBTITLE,
AGRICULTURAL LAND TRANSFER TAX IS IMPOSED ON AN INSTRUMENT OF
WRITING THAT TRANSFERS TITLE TO AGRICULTURAL LAND.