New Hampshire Revised Statutes 48-B:4 – Taxability
Current as of: 2023 | Check for updates
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Terms Used In New Hampshire Revised Statutes 48-B:4
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Municipality: shall mean any city or town in the state;
II. See New Hampshire Revised Statutes 48-B:1 - real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
Any building, or other thing, erected or affixed under any such lease shall be taxed to the lessee thereof or his assigns in the same manner and to the same extent as if such lessee or his assigns were the owners of the land in fee; provided that no part of the value of the land shall be included in any such assessment. The municipality may exercise all remedies provided generally for the collection of taxes and any such lease-hold estate may be sold or taken by the municipality for the nonpayment of any taxes assessed as aforesaid in the manner provided by law for the sale or taking of real estate for nonpayment of local taxes. The municipality shall include in any lease of such air rights a provision whereby the lessee agrees, in the event that the foregoing tax provision is determined by a court of competent jurisdiction to be inapplicable, to pay annually to the municipality a sum of money in lieu of such taxes which would otherwise be assessed thereon in such year.