Revision: Jan. 21, 2010, midnight
HB 548 – AS INTRODUCED
2005 SESSION
10/01
HOUSE BILL 548
AN ACT allowing municipalities to include in property tax inventory the value of new construction assessed as of July 1.
SPONSORS: Rep. Hirschmann, Hills 17; Rep. Hebert, Hills 17; Rep. Infantine, Hills 13
COMMITTEE: Municipal and County Government
This bill enables towns and cities to adopt a procedure for including in the year’s property tax inventory the assessed value of new construction on July 1 of the year such new construction is completed.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05-0494
10/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Five
AN ACT allowing municipalities to include in property tax inventory the value of new construction assessed as of July 1.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Subdivision; New Construction Inventory Option. Amend RSA 76 by inserting after section 20 the following new subdivision:
New Construction Inventory Option
76:21 Procedure for Adoption. A town or city may adopt the provisions of this subdivision in the following manner:
I. In a town, other than a town that has adopted a charter pursuant to RSA 49-D, the question shall be placed on the warrant of a special or annual town meeting, by the governing body or by petition pursuant to RSA 39:3.
II. In a city or town that has adopted a charter pursuant to RSA 49-C or RSA 49-D, the legislative body may consider and act upon the question in accordance with its normal procedures for passage of resolutions, ordinances, and other legislation. In the alternative, the legislative body of such municipality may vote to place the question on the official ballot for any regular municipal election.
III. The question shall specify the provisions of this subdivision. If a majority of those voting on the question vote “yes,” the procedure shall take effect within the town or city, on the date set by the governing body, or in the tax year beginning April 1 following its adoption, whichever shall occur first.
IV. A municipality may rescind the adoption of this subdivision in the manner described in this section.
76:22 Definition. In this subdivision, "new construction" means either any addition to real property, or any alteration of land or of any improvement which constitutes a major rehabilitation thereof. New construction shall not include changes to value not associated with the new construction.
76:23 New Construction Inventory. The municipality shall report to the department of revenue administration by July 1 all properties which are new construction completed after April 1. The report shall be deemed the new construction inventory and shall be included as revised inventory under RSA 75:8. Notwithstanding any requirements of RSA 74 and RSA 76 to the contrary, the municipal assessing officials shall appraise the value of the properties with new construction as of July 1 at the full assessed value under RSA 75:1.
76:24 Reports; Required Compliance. A municipality adopting this subdivision shall be required to comply with the procedures for setting tax rates by the commissioner of revenue administration, including due dates for property value reports and estimated revenue reports, and other reporting or submission dates under RSA 21-J:34 or other provisions in RSA 21-J.
2 Effective Date. This act shall take effect April 1, 2005.