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SB509: allowing municipalities to require income and expense information of business properties for tax appraisals.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
Topics
Public and Municipal Affairs Business and labor Local government Taxation
Official links
SB 509 - AS INTRODUCED
2018 SESSION
18-3023
05/06
SENATE BILL 509
AN ACT allowing municipalities to require income and expense information of business properties for tax appraisals.
ANALYSIS
This bill allows towns and cities to require owners of business property to provide upon request income and expense information for purposes of determining market value.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
18-3023
05/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eighteen
AN ACT allowing municipalities to require income and expense information of business properties for tax appraisals.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Appraisal of Taxable Property; Information for Commercial and Industrial Property. Amend RSA 75 by inserting after section 5 the following new section:
75:5-a Income and Expense Information for Business Property. The selectmen or assessors may require an owner of business property to provide upon the request of the assessing officials, the board of tax and land appeals, or the court, the income and expense information necessary for completing or evaluating the market value of the property in question. If the owner of the property fails to provide such information when requested, the owner shall be guilty of a violation. All documents submitted as requested, and any copies, shall be considered confidential, handled so as to protect the privacy of the taxpayer, and not used for any purpose other than the specific statutory purposes for which the information was obtained.
2 Effective Date. This act shall take effect April 1, 2018.