Md. Code Regs. 15.15.02.02

Current through Register Vol. 51, No. 18, September 6, 2024

Section 15.15.02.02 - Definitions

A. In this chapter, the following terms have the meanings indicated.

B. Terms Defined.

(1) "Agricultural land preservation easement" or "easement" means a negative servitude in land which restricts a landowner's right to use the land for any commercial, industrial, or residential purpose except as otherwise permitted under Agriculture Article, § 2-513, Annotated Code of Maryland.

(2) "Agricultural value" means the value of the land determined by a formula adopted by the Department that measures the farm productivity of the land.

(3) "Cultivatable land" means the portion of the applicant's land that consists of the following soil groups as classified under the USDA Soil Conservation Service's Soil Capability System: Class I, II, III, IV, V, and VI soils.

(4) "Department" means the Maryland Department of Agriculture.

(5) "Fair market value" means the value of land as of the valuation date for the highest and best use of the land which a vendor, willing but not obligated to sell, would accept for the property, and which a purchaser, willing but not obligated to buy, would pay for the property if the property was not subject to any easement restriction.

Md. Code Regs. 15.15.02.02

Regulations .02 adopted as an emergency provision effective March 4, 1991 (18:6 Md. R. 681); emergency status extended at 18:16 Md. R. 1810 (August 9, 1991)
Regulations .02 adopted effective October 28, 1991 (18:21 Md. R. 2310)