New Hampshire Revised Statutes 423-A:2 – Cooperative Tax Base Sharing Agreements
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I. Any 2 or more municipalities, subject to approval by the legislative body of each municipality, or, with the approval of the governor and council, the state and any municipality may enter into a cooperative agreement to share all or a specific part of the commercial, industrial, or residential assessed valuation located within the airport boundaries. Where approval of a town meeting is required, the agreement shall be presented as a separate article in the town warrant.
II. Any such agreement shall specify the following:
(a) Its duration, which shall be 10 years or more;
(b) A description of the tax base to be shared, including, but not limited to, the type of property, the location of the property and whether it is existing, planned, or future construction.
(c) The formula for sharing the property taxes generated through taxation of the valuation which is to be shared.
(d) Any other necessary and proper provisions.
II. Any such agreement shall specify the following:
Terms Used In New Hampshire Revised Statutes 423-A:2
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- legislative body: shall mean a town meeting, school district meeting, village district meeting, city or town council, mayor and council, mayor and board of aldermen, or, when used to refer to unincorporated towns or unorganized places, or both, the county convention. See New Hampshire Revised Statutes 21:47
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(a) Its duration, which shall be 10 years or more;
(b) A description of the tax base to be shared, including, but not limited to, the type of property, the location of the property and whether it is existing, planned, or future construction.
(c) The formula for sharing the property taxes generated through taxation of the valuation which is to be shared.
(d) Any other necessary and proper provisions.