This bill amends the current law regarding the appraisal of residences located in industrial or commercial zones. It allows owners of such residences to submit 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 allows for late applications under certain circumstances, provided 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. This change simplifies the process for homeowners in commercial zones, making it easier for them to maintain their property’s appraisal status without the burden of annual paperwork. The bill 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