FY 25 Harford County Government Proposed Operating Budget

STATE AG PRESERVATION FUND SUMMARY

ORIGIN/PURPOSE: The Maryland Agricultural Preservation Foundation (MALPF) was created in 1977 by the Maryland General Assembly to preserve productive agricultural land and woodland, via the Purchase of Development Rights (PDR), to provide for the continued production of food and fber for all citizens of the State. Preservation of farmland was also intended to help curb the random expansion of urban development. MALPF, along with the Maryland Department of Planning, co-administers the Certifcation of Local Agricultural Land Preservation Programs. MALPF is mainly funded with: ◦ a portion of the State's Property Transfer Tax, which is assessed on all property transfers ◦ local subdivision matching funds for easement purchases ◦ a State Agricultural Land Transfer Tax, which is imposed on all transfers of title in agricultural land taken out of production. Local subdivisions are required to collect the revenue generated by this tax; these funds are then shared in the following manner: Maryland counties, without Certifed Agricultural Land Preservation Programs are required to remit two-thirds of the revenue to MALPF. They retain one-third for agricultural land preservation purposes. Counties that have a Certifed Local Agricultural Land Preservation Program may retain 75% of the Agricultural Transfer Tax collected, for preservation purposes, and are required to remit only 25% to the Foundation.

FUND SUMMARY BY CHARACTER

Ag Pres State Fund Summary by Character

FY 22 Audited

FY 23 Audited

FY 24 Approved Budget

FY 25 Proposed Budget

SALARIES AND WAGES

$30,000

$30,000

$30,000

$30,000

MISCELLANEOUS

$200,745 $230,745

$119,027 $149,027

$240,000 $270,000

$240,000 $270,000

TOTAL

124