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 changing the deadline for application from "each year" to "any year," and it states that reapplication shall not be required after the initial application. Additionally, it provides a provision for late applications under certain circumstances, but no applications will be accepted after the local tax rate has been approved.

Furthermore, the bill repeals RSA 75:11, VII, which previously mandated reapplication for a current use assessment. This change simplifies the process for homeowners in commercial zones, allowing them to maintain their special appraisal status without the burden of annual paperwork. 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