Revision: Jan. 21, 2010, midnight
HB 675-FN – AS INTRODUCED
2005 SESSION
08/04
HOUSE BILL 675-FN
AN ACT exempting agricultural tower silos from the education property tax.
This bill exempts agricultural tower silos from the education property tax.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05-0435
08/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Five
AN ACT exempting agricultural tower silos from the education property tax.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Exemption from Education Property Tax. Amend RSA 76 by inserting after section 3 the following new section:
76:3-a Exemption. Agricultural tower silos taxable under RSA 72:7 shall be exempt from taxation under RSA 76:3.
2 Effective Date. This act shall take effect July 1, 2005.
LBAO
05-0435
1/28/05
HB 675-FN - FISCAL NOTE
AN ACT exempting agricultural tower silos from the education property tax.
FISCAL IMPACT:
The Department of Revenue Administration indicates this bill will have an indeterminable impact on state restricted education trust fund expenditures and local expenditures and local revenue. There will be no fiscal impact on state and county revenue or county expenditures.
METHODOLOGY:
The Department indicates this bill removes agricultural silos from taxation under RSA 76:3, the statewide property tax. Since the amount collected by the state is an amount set by statute, the amount collected will remain the same. However, this bill removes agricultural silos from the equalized valuation calculation, and since that measure is used in the computation of the state’s cost of an adequate education, and since the statewide property tax is calculated on a town by town basis, this bill will change the amount a town receives in grants and pays in statewide property tax. The Department cannot estimate the amount of the changes.