Revision: Dec. 14, 2015, midnight
\t \t\tHB 1219-FN-LOCAL - AS INTRODUCED
2016 SESSION
\t16-2103
\t10/01
HOUSE BILL\t1219-FN-LOCAL
AN ACT\trelative to the repurchase of tax-deeded property by the former owner and the costs therefor.
SPONSORS:\tRep. Coffey, Hills. 25; Rep. Baldasaro, Rock. 5
COMMITTEE:\tMunicipal and County Government
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ANALYSIS
\tThis bill extends the time for a former owner to pay the costs of repurchasing a tax deeded property from the town and deletes a 15 percent penalty charge added to such costs.
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Explanation:\tMatter added to current law appears in bold italics.
\t\tMatter removed from current law appears [in brackets and struckthrough.]
\t\tMatter which is either (a) all new or (b) repealed and reenacted appears in regular type.
\t16-2103
\t10/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Sixteen
AN ACT\trelative to the repurchase of tax-deeded property by the former owner and the costs therefor.
Be it Enacted by the Senate and House of Representatives in General Court convened:
\t1 Real Estate Tax Liens; Repurchase by Former Owner. Amend RSA 80:89, II to read as follows:
\t\tII. Within 30 days after the notice required by paragraph I, or if no such notice is received, at any time within 3 years after the date of recording the tax deed, any former owner of the property may give notice by certified mail, return receipt requested, of intent to repurchase the property from the municipality, and stating that such owner is ready, willing, and able to pay all back taxes, interest, costs and penalty, as defined in RSA 80:90. If all such back taxes, interest, costs and penalty have not been actually tendered within [15] 30 days of such notice of intent to repurchase, the municipality may proceed with its offering and dispose of the property without any interest by the former owner.
\t2 Repeal. RSA 80:90, I(f), relative to an additional 15 percent penalty, is repealed.
\t3 Effective Date. This act shall take effect 60 days after its passage.
\t\t\t\t\t\t\t\t\t\t\t16-2103
\t\t\t\t\t\t\t\t\t\t\t10/23/15
1219-FN-LOCAL - FISCAL NOTE
AN ACT\trelative to the repurchase of tax-deeded property by the former owner and the costs therefor.
FISCAL IMPACT:
The Department of Revenue Administration and the New Hampshire Municipal Association state this bill, as introduced, will decrease local revenue by an indeterminable amount in FY 2016 and each year thereafter. There will be no fiscal impact on state and county revenue or state, county, and local expenditures.
METHODOLOGY:
The Department of Revenue Administration and the New Hampshire Municipal Association state this bill extends the number of days available to a former property owner to pay all back taxes, interest, costs and penalties, after issuing a notice of intent to repurchase the property, from 15 to 30 days. This bill repeals RSA 80:90, I(f); removing a 15 percent penalty based on the assessed value of the property that is assessed against the former owner who repurchases the property pursuant to RSA 80:89. The Department of Revenue and the New Hampshire Municipal Association state this bill will reduce local revenue each time a municipality sells a property back to a former owner. The number of properties sold back to former owners varies from year to year and from municipality to municipality. Therefore, the impact on local revenue is indeterminable.