Section 79-E:2 Definitions.
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In this chapter:
I. ""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.
II. ""Substantial rehabilitation'' means rehabilitation of a qualifying structure which costs at least 15 percent of the pre-rehabilitation assessed valuation or at least $75,000, whichever is less.
III. ""Tax relief'' means that for a period of time determined by a local governing body in accordance with this chapter, the property tax on a qualifying structure shall not increase as a result of the substantial rehabilitation thereof.
IV. ""Tax relief period'' means the finite period of time during which the tax relief will be effective, as determined by a local governing body pursuant to RSA 79-E:5.
I. ""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.
II. ""Substantial rehabilitation'' means rehabilitation of a qualifying structure which costs at least 15 percent of the pre-rehabilitation assessed valuation or at least $75,000, whichever is less.
III. ""Tax relief'' means that for a period of time determined by a local governing body in accordance with this chapter, the property tax on a qualifying structure shall not increase as a result of the substantial rehabilitation thereof.
IV. ""Tax relief period'' means the finite period of time during which the tax relief will be effective, as determined by a local governing body pursuant to RSA 79-E:5.
Source. 2006, 167:1, eff. April 1, 2006.