Md. Code Regs. 08.05.01.07 - Appraisal of Easement Values
A. The Rural
Legacy Board may develop a model easement valuation methodology, which shall place
value on the following characteristics of a property:
(1) Real estate development rights;
(2) Agricultural and commercial forestry
qualities;
(3) Natural resource
qualities; and
(4) Features unique or
specific to the objectives of, and conditions within, each rural legacy area, such
as:
(a) The contribution of a property to
resource-based economies other than agriculture and forestry,
(b) A measure of the development pressure on a
property, and
(c) The location of a
property within a rural legacy area.
B. A model easement valuation methodology approved
by the Rural Legacy Board shall reflect each of the attributes described in §A
of this regulation based on its relative importance in the rural legacy area or to
the rural legacy plan.
C. A sponsor may
develop its own easement valuation methodology, which shall:
(1) Reflect the agricultural, forestry, and
natural resource qualities the easement is designed to protect;
(2) Reflect the fair market values of properties
in the rural legacy area; and
(3) Relate
to the range of easement values paid by the Maryland Agricultural Land Preservation
Foundation and other easement purchasing programs.
Notes
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