This bill amends the current law regarding the appraisal of residences located in industrial or commercial zones. It allows owners of such residences to file a single application for a special appraisal based on the property's current use as a residence, rather than requiring annual reapplications. Specifically, the bill modifies RSA 75:11, I by allowing owners to apply for this special appraisal by April 15 of any year, with the stipulation that reapplication shall not be required after the initial application. Additionally, it provides a provision for late applications under certain circumstances, as long as they are submitted before the local tax rate is approved.

Furthermore, the bill repeals RSA 75:11, VII, which previously mandated reapplication for a current use assessment, thereby streamlining the process for homeowners in commercial zones. The changes aim to simplify the appraisal process and provide more stability for homeowners in these areas. The act is set to take effect on April 1, 2026.

Statutes affected:
Introduced: 75:11
Version adopted by both bodies: 75:11
CHAPTERED FINAL VERSION: 75:11