HB1394: relative to determination of value of property in current use.

CHAPTER 103

HB 1394 – FINAL VERSION

07Mar2006… 1059h

2006 SESSION

06-2588

10/04

HOUSE BILL 1394

AN ACT relative to determination of value of property in current use.

SPONSORS: Rep. Dickinson, Carr 1; Rep. Merrow, Carr 3; Rep. Babson, Carr 3; Rep. Phinizy, Sull 5; Sen. Kenney, Dist 3; Sen. Burling, Dist 5

COMMITTEE: Environment and Agriculture

AMENDED ANALYSIS

This bill provides that the value of property in current use shall be based on the income-producing capability of the land solely for growing forest or agricultural crops.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

07Mar2006… 1059h

06-2588

10/04

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Six

AN ACT relative to determination of value of property in current use.

Be it Enacted by the Senate and House of Representatives in General Court convened:

103:1 Current Use Taxation; Determination of Value. Amend RSA 79-A:2, V to read as follows:

V. “Current use value” means the assessed valuation per acre of open space land based upon the income-producing capability of the land in its current use solely for growing forest or agricultural crops, and not its real estate market value. This valuation shall be determined by the assessor in accordance with the range of current use values established by the board and in accordance with the class, type, grade and location of land.

103:2 Effective Date. This act shall take effect 60 days after its passage.

Approved: May 9, 2006

Effective: July 8, 2006