Commercial and Industrial Construction Exemption, RSA 72:80-83;
State Economic Growth, Resource Protection and Planning Policy, RSA
9-B; Appraisal of Taxed Property, RSA 75:1; Collection of Taxes, RSA
80:1 through 80:42-a; and Administrative Procedure Act, RSA 541-A.
Pursuant to the authority granted by RSA 72:81, the Town of
Derry adopts the Derry Commercial/Industrial Property Tax Exemption
Program for application within the geographical limits of the Town.
Derry Commercial/Industrial Property Tax Exemption Program.
New Hampshire Statutes, RSA Title V, Taxation, Chapter 72, Commercial
and Industrial Construction Exemption Program Statewide
In the interpretation and enforcement of this article, all words
other than those defined specifically below shall have the meanings
implied by their context in the article or the ordinarily accepted
meanings. For the purpose of this article, the following definitions
shall apply unless the context clearly indicates or requires a different
meaning.
ASSESSED VALUATION(S)
The assessed valuation of the improvements/structures as
of April 1 within the tax year the application is made, pursuant to
RSA 72:83.
COMMERCIAL USES
All retail, wholesale, service, and similar uses such as:
automobile and similar vehicle sales; automobile repair facility/garage;
automobile service station; bank; brewery; brew pub; commercial performing
and fine arts schools and studios; commercial service establishment;
conference center; contractor; contractor's yard; funeral establishment;
golf course/country club; grocery/convenience store; hospital; hotel;
commercial service establishment; inn (motel); medical office; movie
and recording studio; multiunit commercial establishment; nursery;
office, pharmacy, printing; professional office; radio broadcasting
facility; repairman; restaurant, drive-in restaurant; retail sales
establishment; riding school; television broadcasting; transportation
center; travel agent; tourist home, and wholesale business.
COVENANT
A formal and legally binding agreement or contract, such
as a lease, or one of the clauses in an agreement of this kind.
INDUSTRIAL USES
Shall include all manufacturing, production, assembling,
warehousing, or processing of goods or materials for sale or distribution,
research and development activities, or processing of waste materials,
such as: bottling facility; building material storage yard; crematorium;
equipment upfit (repair); industrial establishment; light industrial
establishment; industrial repair garage; industrial supply; laboratory
(medical/dental); laboratory: research, experimental, testing; light
industry; light manufacturing; microbrewery; product assembly; publishing;
research and development facility; research lab; sand/gravel pit;
self-storage; truck terminal; warehouse, and wood/metal craft.
QUALIFYING STRUCTURE
A structure located in the Town of Derry built, rebuilt,
modernized, or enlarged to be used for commercial or industrial uses
as defined in RSA 72:80.
REPLACEMENT
The demolition or removal of a qualifying structure and the
subsequent construction of a new structure on the same lot.
TAX INCREMENT FINANCE DISTRICT (TIF)
Any district established in accordance with the provisions
of RSA 162-K. (The Town of Derry, through action of the Derry Town
Council, adopted the provisions of RSA 162-K on May 7, 2002.)
TAX RELIEF
A.
For a qualifying structure, that for a period of time determined
by the Town Council in accordance with this article, the property
tax exemption on a qualifying structure shall be granted as a result
of the construction, reconstruction, modernization or enlargement.
B.
For a qualifying structure, the percentage amount of the property
tax exemption as determined by the Town Council in accordance with
this article.
TAX RELIEF PERIOD AND EXEMPTION AMOUNT
The finite period of time during which the tax relief will
be effective, and the percentage amount of new assessed value to be
exempted, as determined by the Town Council body pursuant to RSA 72:81.
In order to qualify for tax relief under this article, the proposed
new construction or rehabilitation must provide one or more of the
following public benefits, and the proposed replacement must provide
one or more of the same public benefits to a greater degree than would
a rehabilitation of the same qualifying structure, as follows:
A. It enhances the economic vitality of the Town; or
B. It promotes development of municipal centers, providing for efficiency,
safety, and a greater sense of community, consistent with RSA 9-B;
or
C. The proposed development is consistent with the vision espoused in
the Master Plan; or
D. It increases commercial/industrial activity in the Town, including
job creation.
The provisions of this article shall not apply to properties
whose rehabilitation or construction is subsidized by state or federal
grants or funds that do not need to be repaid totaling more than 50%
of construction costs from state or federal programs.
Upon expiration of the tax relief period, the property shall
be taxed at its market value in accordance with RSA 75:1 at the date
of April 1 of said year.
The real estate of every person shall be held for the taxes
levied pursuant to RSA 79-E:9.
Once the application is received and deemed complete, the Town
will notify the applicant of the date of the public hearing.
All taxes levied pursuant to RSA 72:81 which are not paid when
due shall be collected in the same manner as provided in RSA 80.