Del. Kathryn Afzali wants to exempt the heirs who would keep a farm running from estate taxes on the first $5 million of land value. Property valued above that amount would be subject to a 5 percent rate — a steep reduction from the 16 percent now on the books.
"Maryland's farmland is shrinking," Afzali told members of the House Ways and Means Committee on Thursday. Older farmers, she said, "are faced with the dilemma of how to pass agricultural property onto the next generation."
