Quote:
Originally Posted by Argie's Wife
...In the meantime, perhaps a property tax relief for that area could be granted to any new businesses willing to open up shop and renovate some of the pre-existing buildings in the area. If prospective businesses were willing to put money into the buildings and their businesses (not to mention creating more jobs), vs. paying a bunch of property taxes, perhaps we could have a win-win situation.
Example: A business goes before City Council with a proposed plan improving the building and once approved, they are granted a 20% tax break on their property tax for the next 5 years, but if their plan includes creating more jobs through running their business, then perhaps they could receive additional tax breaks. Money that would have gone to the city, would go into the local economy - but that will eventually go back to the city if you think about it: more jobs means more people are spending money and less people are on public assistance...
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While this may sound like a great idea for the business owners, tax law is set by RSA at the State level and there is absolutely no provision for local governments to give tax breaks to property owners.
Contrary to common beleief, New Hampshire is not a Home Rule State and all powers derived in the City of Laconia's City Charter are derived from the State. By statute a local government can offer a Veteran or Elderly tax credit and can abate property that has been shown to have been assessed improperly. They are granted this authority under the applicable NH RSAs. However a local Government cannot waive property tax payments under the description given.