Is there zakah on land that is no longer for sale?

The questioner:
We take Hasan from al-Aflaj. Go ahead, Hasan. Go ahead, Abu Hasan. Peace be upon you. And upon you, peace. Turn the television down a bit, Abu Hasan. Turn the television down a bit. Go ahead. Go ahead, my brother. Also, Shaykh. Go ahead.

The Shaykh:
Yes. My first question is about a piece of land.

The questioner:
It has been about five years. Some people say to pay zakah on it, and some say not to. Should I pay zakah on it because I did not put it up for sale, and I kept it, saying, "I will raise the children and give it to them," or if it becomes a good deal, I will sell it? What is the ruling on that? Okay, the Shaykh will answer. The Shaykh will answer. Just a moment.

The Shaykh:
If your intention with the land is to sell it, then you pay zakah on it every time a year has passed. You appraise it at its current value and price, and you give one-quarter of a tenth of its estimated value. However, if you saved it for your own need or the future need of the children and did not intend to sell it, then there is no zakah on it. Yes.

The presenter:
Okay, the second question, Abu Hasan.

The questioner:
I say, for example, if it had a good value, I would sell it, or I would keep it for the children, meaning my intention is such and such.

The Shaykh:
If you did not resolve to sell it, then there is no zakah on it. But if you resolved to sell it one hundred percent, then there is zakah on it. Okay.