This bill amends the current property tax exemption process for organizations by allowing them to file a single application for property tax exemptions, which will remain in effect unless a town assessor determines that the organization is no longer eligible. The bill modifies the section heading of RSA 72:23-c from "Annual List" to "Exemption List" and requires organizations to submit a list of their real estate and personal property by April 15 of any tax year. It also introduces provisions for organizations that may have missed the deadline due to unforeseen circumstances, allowing them to file late applications under certain conditions.

Additionally, the bill establishes that once an application is approved, it will be treated as a permanent application. To maintain eligibility, assessors are required to conduct annual field reviews of qualifying properties and may request updated information from applicants at least once every five years, or annually if needed. The fiscal impact of this bill is expected to result in an indeterminable increase in local expenditures, estimated to be less than $10,000 per municipality, as local assessors will need to allocate additional hours for the required reviews, although some costs may be offset by reduced processing expenses.

Statutes affected:
Introduced: 72:23-c
As Amended by the Senate: 72:23-c
Version adopted by both bodies: 72:23-c
HB1756 text: 72:23-c