§1131. Purpose It is declared that it is in the public interest to encourage the preservation of working waterfront land and to prevent the conversion of working waterfront land to other uses as the result of economic pressures caused by the assessment of that land, for purposes of property taxation, at values incompatible with its […]
§1132. Definitions As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2007, c. 466, Pt. A, §58 (NEW).] 1. Commercial aquacultural production. “Commercial aquacultural production” has the same meaning as in section 2013, subsection 1, paragraph A-1. [PL 2009, c. 496, §11 (AMD).] 2. […]
§1133. Owner’s application An owner or owners of land may elect to apply for taxation under this subchapter for the tax year beginning April 1, 2007 and for subsequent tax years by filing with the assessor the schedule provided for in section 1137, subsection 1. [PL 2007, c. 466, Pt. A, §58 (NEW).] SECTION […]
§1134. Administration; rules The State Tax Assessor may adopt rules necessary to carry out this subchapter. Rules adopted under this section are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A. [PL 2007, c. 466, Pt. A, §58 (NEW).] SECTION HISTORY PL 2007, c. 466, Pt. A, §58 (NEW).
§1135. Current use valuation of working waterfront land The municipal assessor, chief assessor or State Tax Assessor for the unorganized territory shall establish the current use value per parcel for property classified as working waterfront land. The current use value of working waterfront land is the sale price that the parcel would command in the […]
§1136. Assessment of tax An assessment of working waterfront land for purposes of property taxation must be based on the value determined in accordance with this subchapter. [PL 2007, c. 466, Pt. A, §58 (NEW).] SECTION HISTORY PL 2007, c. 466, Pt. A, §58 (NEW).
§1137. Schedule; qualification 1. Schedule. The owner or owners of waterfront land may apply for taxation of that land under this subchapter by submitting a signed schedule, on or before April 1st of the year in which the owner or owners wish to first subject that land to taxation under this subchapter, to the assessor […]
§1138. Recapture penalty 1. Assessor determination; owner request. If the assessor determines that land subject to this subchapter no longer meets the requirements of this subchapter, the assessor must withdraw the land from taxation under this subchapter. The owner of land subject to this subchapter may at any time request withdrawal of any land from […]
§1139. Enforcement A tax lien is created to secure the payment of the penalties provided in section 1138. The lien may be enforced in the same manner and has the same effect as liens on real estate created by section 552. [PL 2007, c. 466, Pt. A, §58 (NEW).] SECTION HISTORY PL 2007, c. […]
§1140-A. Appeals and abatements The denial of an application or an assessment made under this subchapter is subject to the abatement procedures provided by section 841. Appeal from a decision rendered under section 841 is to the State Board of Property Tax Review. [PL 2007, c. 466, Pt. A, §58 (NEW).] SECTION HISTORY PL […]
§1140-B. Analysis and report 1. Analysis. The State Tax Assessor, in consultation with municipal assessors, the Commissioner of Agriculture, Conservation and Forestry or the commissioner’s designee, representatives of working waterfront organizations and other interested parties, shall collect and analyze the sales prices of all actual sales that occur in the State of waterfront land that […]
§1140. Transfer of ownership If land taxed under this subchapter is transferred to a new owner or owners, in order to maintain the classification, within one year of the date of transfer, the new owner or owners must file with the assessor a new application and a sworn statement indicating that the transferred parcel continues […]
