SB128 (2009) Detail

Allowing municipalities to grant a property tax credit for low income persons owning residential property.


SB 128 – AS INTRODUCED

2009 SESSION

09-0994

10/03

SENATE BILL 128

AN ACT allowing municipalities to grant a property tax credit for low income persons owning residential property.

SPONSORS: Sen. Fuller Clark, Dist 24

COMMITTEE: Public and Municipal Affairs

ANALYSIS

This bill enables towns and cities to adopt a property tax credit for owners of residential real estate whose household income is less than the limit adopted by the town or city.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

09-0994

10/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Nine

AN ACT allowing municipalities to grant a property tax credit for low income persons owning residential property.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Section; Low Income Property Tax Credit. Amend RSA 72 by inserting after section 39-b the following new section:

72:39-c Low Income Property Tax Credit.

I. A town or city may adopt or modify the low income property tax credit granted under this section by the procedure in RSA 72:27-a.

II. Each person owning residential property in the town or city, as his or her principal place of residence, shall be granted a credit against the tax on his or her residential real estate, for each year the person qualifies according to limits for household income as determined by the town or city.

III. Only one credit may be granted for each residence. A town or city may determine the amount of the tax credit it determines is appropriate to address property tax relief for qualified residents in accordance with the procedures in this section. The term “residential real estate’’ as used in this section shall mean the same as defined in RSA 72:29. All applications made under this section shall be subject to the provisions of RSA 72:33 and RSA 72:34. The credit may be applied to any land or buildings appurtenant to the residence or to manufactured housing if that is the principal place of abode.

IV. No credit shall be allowed under paragraph II unless the person applying therefor:

(a) Has resided in this state for at least 3 consecutive years preceding April 1 in the year in which the credit is claimed.

(b) Had in the calendar year preceding said April 1 a net household income from all sources of not more than the amount determined by the city or town. The net household income shall be determined by deducting from all moneys received, from any source including social security or pension payments, the amount of any of the following or the sum thereof:

(1) Life insurance paid on the death of an insured.

(2) Expenses and costs incurred in the course of conducting a business enterprise.

(3) Proceeds from the sale of assets.

2 Low Income Property Tax Credit; Adoption Procedure; Reference Added. Amend the introductory paragraph of RSA 72:27-a, I to read as follows:

I. Any town or city may adopt the provisions of RSA 72:28, RSA 72:29-a, RSA 72:35, RSA 72:37, RSA 72:37-b, RSA 72:38-b, RSA 72:39-a, RSA 72:39-c, RSA 72:62, RSA 72:66, RSA 72:70, or RSA 72:76 in the following manner:

3 Definitions; References Added. Amend RSA 72:29, VI to read as follows:

VI. For purposes of RSA 72:28, 29-a, 30, 31, 32, 33, 35, 36-a, 37, 37-a, 37-b, 38-a, 38-b, 39-a, 39-c, 62, 66, and 70, the ownership of real estate, as expressed by such words as “owner,” “owned,” or “own,” shall include those who have equitable title or the beneficial interest for life in the subject property.

4 Property Taxation; Application Procedure; Reference Added. Amend the introductory paragraph of RSA 72:33, I to read as follows:

I. No person shall be entitled to the exemptions or tax credits provided by RSA 72:28, 29-a, 30, 31, 32, 35, 36-a, 37, 37-a, 37-b, 38-b, 39-b, 39-c, 62, 66, and 70 unless the person has filed with the selectmen or assessors, by April 15 preceding the setting of the tax rate, a permanent application therefor, signed under penalty of perjury, on a form approved and provided by the commissioner of revenue administration, showing that the applicant is the true and lawful owner of the property on which the exemption or tax credit is claimed and that the applicant was duly qualified upon April 1 of the year in which the exemption or tax credit is first claimed, or, in the case of financial qualifications, that the applicant is duly qualified at the time of application. The form shall include the following and such other information deemed necessary by the commissioner:

5 Appeals; Reference Added. Amend RSA 72:34-a to read as follows:

72:34-a Appeal From Refusal to Grant Exemption, Deferral, or Tax Credit. Whenever the selectmen or assessors refuse to grant an applicant an exemption, deferral, or tax credit to which the applicant may be entitled under the provisions of RSA 72:23, 23-d, 23-e, 23-f, 23-g, 23-h, 23-i, 23-j, 23-k, 28, 29-a, 30, 31, 32, 35, 36-a, 37, 37-a, 37-b, 38-a, 38-b, 39-a, 39-b, 39-c, 41, [42,] 62, 66, or 70 the applicant may appeal in writing, on or before September 1 following the date of notice of tax under RSA 72:1-d, to the board of tax and land appeals or the superior court, which may order an exemption, deferral, or tax credit, or an abatement if a tax has been assessed.

6 Interpretation by Commissioner of Revenue Administration. Amend RSA 72:36, I to read as follows:

I. The commissioner’s interpretation of RSA 72:28, 72:29, 72:29-a, 72:30, 72:31, 72:32, 72:33, 72:34, 72:34-a, 72:35, 72:36-a, 72:37, 72:37-a, 72:37-b, 72:38-a, 72:38-b, 72:39-a, 72:39-b, 72:41, 72:62, 72:66, [and] 72:70, and 72:39-c; and

7 Effective Date. This act shall take effect April 1, 2009.

Links

SB128 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

SB128 Revision: 14238 Date: Jan. 26, 2009, midnight

Docket