New Hampshire Revised Statutes 356-B:4 – Separate Titles and Taxation
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Terms Used In New Hampshire Revised Statutes 356-B:4
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
Each condominium unit shall constitute for all purposes a separate parcel of real property, distinct from all other condominium units. If there is any unit or units owned by any person other than the declarant, each such unit or units shall be subject to separate assessment and taxation by each assessing authority and special district for all types of taxes authorized by law. Each unit in which time sharing interests, as defined in N.H. Rev. Stat. § 356-B:3, XXVIII, have been created shall be valued for purposes of real property taxation as if such unit were owned by a single taxpayer. Condominium units in which time sharing interests have been created shall be taxed as wholly owned condominium units. The total cumulative purchase price paid for time sharing interests in any such unit shall not be determinative of the unit’s assessed value. No taxes shall be assessed against the individual owner of a time sharing interest but shall be assessed against the record owner of such unit, the owners’ association, trustee, or managing agent, as appropriate.