SB562 (2020) Detail

(New Title) relative to a property tax relief program for qualifying residential property in a designated residential property revitalization zone.


SB 562 - AS AMENDED BY THE SENATE

 

03/05/2020   0777s

2020 SESSION

20-2936

10/01

 

SENATE BILL 562

 

AN ACT relative to a property tax relief program for qualifying residential property in a designated residential property revitalization zone.

 

SPONSORS: Sen. Kahn, Dist 10; Sen. Sherman, Dist 24; Sen. Chandley, Dist 11; Sen. Fuller Clark, Dist 21

 

COMMITTEE: Election Law and Municipal Affairs

 

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AMENDED ANALYSIS

 

This bill allows municipalities to adopt a program for tax relief for qualifying residential property in a designated residential property revitalization zone designated under the community revitalization tax relief program.

 

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/05/2020   0777s 20-2936

10/01

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT relative to a property tax relief program for qualifying residential property in a designated residential property revitalization zone.

 

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

 

1  Commissioner of Revenue Administration; Equalization; Reference Added.  Amend RSA 21-J:3, XIII to read as follows:

XIII.  Equalize annually by May 1 the valuation of the property as assessed in the several towns, cities, and unincorporated places in the state including the value of property exempt pursuant to RSA 72:37, 72:37-b, 72:39-a, 72:62, 72:66, and 72:70, property which is subject to tax relief under RSA 79-E:4, and property which is subject to tax relief under RSA 79-E:4-a or RSA 79-E:4-b, by adding to or deducting from the aggregate valuation of the property in towns, cities, and unincorporated places such sums as will bring such valuations to the true and market value of the property, and by making such adjustments in the value of other property from which the towns, cities, and unincorporated places receive taxes or payments in lieu of taxes, including renewable generation facility property subject to a payment in lieu of taxes agreement under RSA 72:74 and combined heat and power agricultural facility property subject to a payment in lieu of taxes agreement under RSA 72:74-a, as may be equitable and just, so that any public taxes that may be apportioned among them shall be equal and just.  In carrying out the duty to equalize the valuation of property, the commissioner shall follow the procedures set forth in RSA 21-J:9-a.

2  Definition; Qualifying Structure.  Amend RSA 79-E:2, II to read as follows:

II.(a) "Qualifying structure'' means a building located in a district officially designated in a municipality's master plan, or by zoning ordinance, as a downtown, town center, central business district, or village center, or, where no such designation has been made, in a geographic area which, as a result of its compact development patterns and uses, is identified by the governing body as the downtown, town center, or village center for purposes of this chapter.  

(b)  Qualifying structure shall also mean:

(1)  Historic structures in a municipality whose preservation and reuse would conserve the embodied energy in existing building stock.

(2)  An owner-occupied residential property with not more than 4 units located in a residential property revitalization zone designated under RSA 79-E:4-b and which is at least 40 years old and has a total assessed valuation that is below the mean assessed value for residential properties in the city or town.

(c) Cities or towns may further limit "qualifying structure'' according to the procedure in RSA 79-E:3 as meaning only a structure located within such districts that meet certain age, occupancy, condition, size, or other similar criteria consistent with local economic conditions, community character, and local planning and development goals.

(d) Cities or towns may further modify "qualifying structure'' to include buildings that have been destroyed by fire or act of nature, including where such destruction occurred within 15 years prior to the adoption of the provisions of this chapter by the city or town.

(e)  In a city or town that has adopted the provisions of RSA 79-E:4-a, "qualifying structure" also means potentially impacted structures identified by the municipality within the coastal resilience incentive zone established under RSA 79-E:4-a.

3  New Section; Community Revitalization Tax Relief Incentive; Residential Property Revitalization Zones.  Amend RSA 79-E by inserting after section 4-a the following new section:

79-E:4-b  Residential Property Revitalization Zones.

I.  A city or town may adopt the provisions of this section by vote of its legislative body, according to the procedures described in RSA 79-E:3, to establish tax relief for the owners of owner-occupied residential property with not more than 4 units which is at least 40 years old and has a total assessed valuation that is below the mean assessed value for residential properties in the city or town who significantly improve the quality, condition, and/or use of an existing residential structure in a designated residential property revitalization zone.

II.  The governing body of a municipality shall designate the area of a residential property revitalization zone in which the tax relief for qualifying structures shall apply.  Municipalities may further establish criteria for the public benefits, goals, and measures that will determine the eligibility of qualifying structures for tax relief located within a designated residential property revitalization zone.

III.  Municipalities may grant tax relief to the qualifying structure and property as described in RSA 79-E:4 for the period of tax relief under RSA 79-E:5, provided that no property may be granted tax relief under this chapter more than once in a 20 year period.

4  Effective Date.  This act shall take effect 60 days after its passage.

Links

SB562 at GenCourtMobile
SB562 Discussion

Action Dates

Date Body Type
Jan. 29, 2020 Senate Hearing
March 5, 2020 Senate Floor Vote

Bill Text Revisions

SB562 Revision: 8228 Date: March 5, 2020, 12:48 p.m.
SB562 Revision: 7783 Date: Jan. 2, 2020, 1:57 p.m.

Docket


: Died on Table


June 30, 2020: Vacated and Laid on Table MA VV 06/30/2020 HJ 10 P. 4


March 12, 2020: Introduced 03/12/2020 and referred to Municipal and County Government HJ 8 P. 227


March 5, 2020: Ought to Pass with Amendment 2020-0777s, MA, VV; OT3rdg; 03/05/2020; SJ 5


March 5, 2020: Committee Amendment # 2020-0777s, AA, VV; 03/05/2020; SJ 5


March 5, 2020: Committee Report: Ought to Pass with Amendment # 2020-0777s, 03/05/2020; Vote 5-0; CC; SC 9


Jan. 29, 2020: Hearing: 01/29/2020, Room 102, LOB, 10:45 am; SC 4


Jan. 8, 2020: Introduced 01/08/2020 and Referred to Election Law and Municipal Affairs; SJ 1