Pursuant to the authority of Section 10-201, Tax-Property Article, Annotated Code of Maryland, certain residential property rezoned through the Sectional Map Amendment process to a commercial, industrial, or to a mixed use zone, may have any increased assessment, due to the rezoning, deferred for a period of up to ten (10) years under the following conditions: The property must have been rezoned after July 1, 1984, from a residential zone under the Sectional Map Amendment process without an affirmative request to rezone by the property owner. At the time of such rezoning, and for the duration of the deferral, the residential property must be owner-occupied as the principal residence of the taxpayer. The property eligible for the deferral shall be limited to a one-family detached dwelling and the property on which the dwelling is situated, but in no event shall such property in excess of five (5) acres be eligible for the deferral. The deferral shall end on the occurrence of the earlier of any of the following: Sale of the property; Rezoning to a zone requested by the owner; Resubdivision of any portion of the property; Use of the property for other than a one-family residential purpose; or Expiration of the deferral period. Deferred taxes shall bear interest at the rate authorized by State law and a lien shall attach to the property for all deferred taxes and interest. Penalties shall not be charged during the period of deferral on any tax payments deferred under this Section. Applications for the deferral of taxes under this Section shall be filed, on forms supplied for that purpose, with the Director of Finance who is authorized to administer this Section.