HB 1147 – AS INTRODUCED
2010 SESSION
10/09
HOUSE BILL 1147
AN ACT excluding value attributed to unexercised approvals in determining the market value of land for property tax purposes.
COMMITTEE: Local and Regulated Revenues
This bill modifies the definition of market value for property tax appraisal purposes by excluding value attributed to land by land use approvals neither exercised nor commenced.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10-2179
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT excluding value attributed to unexercised approvals in determining the market value of land for property tax purposes.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Property Taxation; Appraisals; Market Value. Amend RSA 75:1 to read as follows:
75:1 How Appraised. The selectmen shall appraise open space land pursuant to RSA 79-A:5, open space land with conservation restrictions pursuant to RSA 79-B:3, land with discretionary easements pursuant to RSA 79-C:7, residences on commercial or industrial zoned land pursuant to RSA 75:11, earth and excavations pursuant to RSA 72-B, land classified as land under qualifying farm structures pursuant to RSA 79-F, residential rental property subject to a housing covenant under the low-income housing tax credit program pursuant to RSA 75:1-a, and all other taxable property at its market value. Market value means the property's full and true value as the same would be appraised in payment of a just debt due from a solvent debtor, but excluding any enhanced value attributed to land by municipal or other land use approvals neither exercised nor commenced. The selectmen shall receive and consider all evidence that may be submitted to them relative to the value of property, the value of which cannot be determined by personal examination.
2 Effective Date. This act shall take effect April 1, 2010.