<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".07" citation="COMAR 08.05.01.07" title_num="08" subtitle_num="05" chapter_num="01" heading="Appraisal of Easement Values.">
  <paragraph num="A.">
    <text>The Rural Legacy Board may develop a model easement valuation methodology, which shall place value on the following characteristics of a property:</text>
    <paragraph num="(1)">
      <text>Real estate development rights;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Agricultural and commercial forestry qualities;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Natural resource qualities; and</text>
    </paragraph>
    <paragraph num="(4)">
      <text>Features unique or specific to the objectives of, and conditions within, each rural legacy area, such as:</text>
      <paragraph num="(a)">
        <text>The contribution of a property to resource-based economies other than agriculture and forestry,</text>
      </paragraph>
      <paragraph num="(b)">
        <text>A measure of the development pressure on a property, and</text>
      </paragraph>
      <paragraph num="(c)">
        <text>The location of a property within a rural legacy area.</text>
      </paragraph>
    </paragraph>
  </paragraph>
  <paragraph num="B.">
    <text>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.</text>
  </paragraph>
  <paragraph num="C.">
    <text>A sponsor may develop its own easement valuation methodology, which shall:</text>
    <paragraph num="(1)">
      <text>Reflect the agricultural, forestry, and natural resource qualities the easement is designed to protect;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Reflect the fair market values of properties in the rural legacy area; and</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Relate to the range of easement values paid by the Maryland Agricultural Land Preservation Foundation and other easement purchasing programs.</text>
    </paragraph>
  </paragraph>
</regulation>