[§246-12.1]  Golf course assessment. Property operated and used as a golf course shall be assessed for property taxpurposes on the following basis:

The value to be assessed by the tax assessorshall be on the basis of its actual use as a golf course rather than on thevaluation based on the highest and best use of the land.

In determining the value of actual use, thefactors to be considered shall include, among others, rental income, cost ofdevelopment, sales price and the effect of the value of the golf course on thevalue of the surrounding lands. [L 1969, c 150, pt of §1]