(1) Each one-acre of land beneath any residences located on agricultural land is classified as agricultural land and valued according to the highest productivity value of agricultural land, in accordance with 15-7-206, MCA.

(2) Each one-acre of land beneath any residences located on nonqualified agricultural land is classified as class four land and valued according to the market value of comparable land.

(a) If the one acre of land is located on a nonqualified agricultural parcel of land that is many miles from a suburban area, the market value assigned to the land will be consistent with the market value of comparable land. In no case will the market value be lower than the lowest market value assigned to improved tracts within the county.

(b) If the one acre of land is located on a nonqualified agricultural parcel of land that is near a suburban area, the market value assigned to the land will be consistent with the market value of surrounding suburban land.