New Hampshire Revised Statutes 72:81 – Property Tax Exemption
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I. An eligible municipality may, by vote of the local legislative body pursuant to N.H. Rev. Stat. § 72:82, adopt a new construction property tax exemption for commercial or industrial uses, or both. The intent of the exemption is to provide incentives to businesses to build, rebuild, modernize, or enlarge within the municipality. The exemption shall apply only for municipal and local school property taxes assessed by the municipality which shall exclude state education property taxes under N.H. Rev. Stat. § 76:3 and county taxes assessed against the municipality under N.H. Rev. Stat. § 29:11, and shall be a specified percentage on an annual basis of the increase in assessed value attributable to construction of new structures, and additions, renovations, or improvements to existing structures, but which shall not exceed 50 percent per year. The exemption may run for a maximum period of 10 years following the new construction.
II. Once adopted by the local legislative body, the percentage rate and duration of the exemption shall be granted on a per case basis based on the amount and value of public benefit as determined by the governing body either:
(a) To all properties within the municipality; or
(b) To a specific group or groups of parcels within the municipality as designated by the legislative body.
III. For the purposes of this section, public benefit shall be defined by the local legislative body as part of the adoption of the property tax exemption.
II. Once adopted by the local legislative body, the percentage rate and duration of the exemption shall be granted on a per case basis based on the amount and value of public benefit as determined by the governing body either:
Terms Used In New Hampshire Revised Statutes 72:81
- 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
- governing body: shall mean the board of selectmen in a town, the board of aldermen or council in a city or town with a town council, the school board in a school district or the village district commissioners in a village district, or when used to refer to unincorporated towns or unorganized places, or both, the county commissioners. See New Hampshire Revised Statutes 21:48
- 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) To all properties within the municipality; or
(b) To a specific group or groups of parcels within the municipality as designated by the legislative body.
III. For the purposes of this section, public benefit shall be defined by the local legislative body as part of the adoption of the property tax exemption.