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RSA 79-E:5 · Duration of Tax Relief Period
79-E:5 Duration of Tax Relief Period. –
Copy linkThe governing body may grant such tax assessment relief for a period of up to 5 years, beginning with the completion of the substantial rehabilitation. I-a. For the approval of a replacement of a qualifying structure, the governing body may grant such tax assessment relief for a period of up to 5 years, beginning only upon the completion of construction of the replacement structure. The governing body may, in its discretion, extend such additional years of tax relief as provided for under this section, provided that no such additional years of tax relief may be provided prior to the completion of construction of the replacement structure. The municipal tax assessment of the replacement structure and the property on which it is located shall not increase or decrease in the period between the approval by the governing body of tax relief for the replacement structure and the time the owner completes construction of the replacement structure and grants to the municipality the covenant to protect the public benefit as required by this chapter. The governing body may not grant any tax assessment relief under this chapter with respect to property and structures for which an election has been made for property appraisal under RSA 75:1-a.
Copy linkThe governing body may, in its discretion, add up to an additional 2 years of tax relief for a project that results in new residential units and up to 4 years for a project that includes affordable housing.
Copy linkThe governing body may, in its discretion, add up to an additional 4 years of tax relief for the substantial rehabilitation of a qualifying structure that is listed on or determined eligible for listing on the National Register of Historic Places, state register of historic places, or is located within and important to a locally designated historic district, provided that the substantial rehabilitation is conducted in accordance with the U.S. Secretary of Interior's Standards for Rehabilitation.
Copy linkThe governing body may adopt local guidelines to assist it in determining the appropriate duration of the tax assessment relief period. Source. 2006, 167:1. 2009, 200:12. 2010, 329:4, eff. July 20, 2010.
Copy linkSource note
Source. 2006, 167:1. 2009, 200:12. 2010, 329:4, eff. July 20, 2010.
Source history
- 2006, 167:1
- 2009, 200:12
- 2010, 329:4, eff. July 20, 2010
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also includes co-working spaces. III. Municipalities may grant tax relief to the qualifying structure and property as described in RSA 79-E:4 for the period of tax relief under RSA 79-E:5, provided that no property may be granted tax relief under this chapter more than once in a 20 year period. IV. For the purposes of this section, “commercial use” and “industrial use” shall have the same meaning as pr
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mited to adoption of financial tools that incentivize the development of [workforce housing, including adoption of] the community revitalization tax relief incentive program under RSA 79-E and establishment of municipal economic development and revitalization districts under RSA 162-K. 4 Repealing the Workforce Housing Program; Housing Planning and Regulation Municipal Grant Program. Amend RSA 12-O:72 t
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ng electrical, mechanical, plumbing, or other system improvements that reduce flood damage. 72:89 Exemption for Flood Resiliency Improvement. Each city and town may adopt under RSA 79-E an exemption from the assessed value, for property tax purposes, for real property which is includes a flood resiliency improvement as defined in RSA 72:88. The value of such exemption shall not exceed the value of the
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ng electrical, mechanical, plumbing, or other system improvements that reduce flood damage. 72:89 Exemption for Flood Resiliency Improvement. Each city and town may adopt under RSA 79-E an exemption from the assessed value, for property tax purposes, for real property which is includes a flood resiliency improvement as defined in RSA 72:88. The value of such exemption shall not exceed the value of the