HARRY HUGHES, Governor

4161

ASSESSMENT AS PROVIDED FOR IN paragraph (1):

(i) Land zoned for industrial, commercial, or
multifamily residential use as of July 1, 1972, if such zoning
has been effected upon application or at the instance of the
owner or any former owner of the land, or by any person who has
or has previously had a property interest therein; provided that
this paragraph shall not include an application for rezoning to
correct an acknowledged error in the original zoning.

(ii) Land which becomes zoned after July 1,
1972, to a more intensive use than permitted on July 1, 1972,
upon application or at the instance of the owner or other person
having a property interest therein from and after the first day
of the taxable year in which the rezoning becomes effective.

[(iii) 1. Land subdivided into lots or parcels
after July 1, 1972, does not qualify under paragraph (1), from
and after the first day of the taxable year in which the
subdivision occurs; provided, however, that, except for the
dwelling house and homesite which shall be assessed at fair
market value, no parcel of 20 acres or more shall be disqualified
solely as a result of that subdivision. For the purposes of this
section "homesite" is defined as that area of land reasonably
related to the dwelling. The following subdivided land is not
disqualified under the provisions of this subparagraph (iii):

A.  Land subdivided by means of a recorded
plat filed for record before July 1, 1972;

B.  Land subdivided in order to convey a
single lot or parcel to a member of the owner's immediate family
for that member's residence;

C.  Land subdivided in order to dedicate
or convey one or more lots or parcels for public school or park
purposes;

D.  Subdivided land which is purchased by
a person who owns land which is adjoining the subdivided land,
and the combined acreage of the subdivided land and the
purchaser's original parcel exceeds 20 acres; provided that the
purchaser's original parcel and the subdivided land were
receiving an agricultural use assessment, the parcels remain in
agricultural use, and that the purchaser requests that the
subdivided land being purchased be granted an agricultural or
farm use assessment;

E.  Subdivided land, not exceeding 2
parcels, which is purchased by a person who owns land which is
located in the same county as the subdivided land, and the
combined acreage of the subdivided land and the purchaser's
original parcel exceeds 20 acres: provided that the purchaser's
original parcel and the subdivided land were receiving an