HB 445-FN-LOCAL – AS INTRODUCED
2007 SESSION
09/03
HOUSE BILL 445-FN-LOCAL
AN ACT relative to the assessment of open space land.
SPONSORS: Rep. Pelkey, Ches 7; Rep. Chandler, Carr 1; Rep. Patten, Carr 4
COMMITTEE: Municipal and County Government
This bill eliminates a requirement that valuations of open space land be equalized for the purposes of assessing current use taxes.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-0374
09/03
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT relative to the assessment of open space land.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Assessment of Open Space Land. Amend RSA 79-A:5, I to read as follows:
I. The selectmen or assessing officials shall appraise open space land, as classified under the provisions of this chapter, excluding any building, appurtenance, or other improvement on the land, at valuations based upon the current use values established by the board. [The valuations shall be equalized for the purpose of assessing taxes.] The selectmen or assessing officials shall use the soil potential index when available, to determine the value of farm land within the ranges established by the board. It shall be the duty of the owner to provide the soil potential index to the selectmen or assessing officials.
2 Effective Date. This act shall take effect April 1, 2007.
LBAO
07-0374
01/22/07
HB 445-FN-LOCAL - FISCAL NOTE
AN ACT relative to the assessment of open space land.
FISCAL IMPACT:
The Department of Revenue Administration and the New Hampshire Municipal Association state the fiscal impact on local expenditures is indeterminable in FY 2007 and each year thereafter. There is no fiscal impact on state and county expenditures or state, county, and local revenue.
METHODOLOGY:
The Department of Revenue Administration and New Hampshire Municipal Association state this proposal would eliminate the application of the equalization ratio to current use property when determining the local assessed value of property for the purpose of calculating property tax bills. Municipalities may incur some additional administrative costs or may experience a decrease in costs if equalization ratios are calculated manually; however the fiscal impact on local expenditures is indeterminable.