2006 New Hampshire Statutes - Section 198:40-a Local Tax Capacity Aid.

Beginning July 1, 2005, and for the first year of every biennium thereafter, local tax capacity aid shall be calculated by the department of education as follows:
    I. The total statewide equalized valuation including utilities of all municipalities, as determined by the department of revenue administration, shall be divided by the total statewide average daily membership in residence. The result shall be the statewide average equalized valuation per pupil.
    II. The equalized valuation of all property including utilities in a municipality, as determined by the department of revenue administration, shall be divided by the average daily membership in residence in the municipality. The result shall be the local equalized valuation per pupil.
    III. Eligibility for local tax capacity aid under this paragraph shall be determined as follows:
       (a) If a municipality's local equalized valuation per pupil as calculated in paragraph II is equal to, or greater than, the statewide average equalized valuation per pupil as calculated in paragraph I, no local tax capacity aid shall be available.
       (b) If a municipality's local equalized valuation per pupil as calculated in paragraph II is less than the statewide average equalized valuation per pupil as calculated in paragraph I, the municipality shall be entitled to receive local tax capacity aid in an amount equal to the following: subtract the local equalized valuation per pupil as calculated in paragraph II from the statewide average equalized valuation per pupil as calculated in paragraph I. This amount shall be divided by 1,000 and then multiplied by the state tax capacity rate. The result shall be multiplied by the average daily membership in residence in such municipality and shall be the local tax capacity aid for the municipality.

Source. 2005, 257:6, eff. July 1, 2005 at 12:02 a.m.