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Community Revitalization tax relief incentive (rsa 79-E)

What is rsa 79-E?

RSA 79-E is a property tax relief program that seeks to encourage development in designated town and city centers and encourage rehabilitation of existing buildings.  A municipality that has adopted 79-E may accept applications from property owners who are making improvements that meet 79-E guidelines and vote to authorize tax relief. The relief, if approved by the governing body, maintains the pre-rehabilitation assessed value for a period of up to 5 years.  In exchange the property owner records a covenant to maintain the public benefit for a set number of years.

What qualifies a property for the RSA 79-E tax incentive?

In order to qualify an applicant will have to show that the property is in an eligible district, that it is a substantial rehabilitation, and that there is a public benefit.

In Claremont the City Council has defined the Historic District and the City Center Zone as the eligible districts for the program.Both maps are downloadable below from the supporting documents.

Substantial rehabilitation has been defined locally as rehabilitation costs of at least 25% of the building's pre-rehabilitation assessed value or $75,000, whichever is less.  

The state statute requires that the proposed substantial rehabilitation must provide at least one of five public benefits that are defined as enhancing economic vitality of a downtown, enhancing and improving a culturally or historically important structure, promoting the preservation and reuse of existing building stock, promoting development of municipal centers, or increasing residential housing.

If the City Council approves an application for tax relief under 79-E the building owner must record a covenant ensuring that the public benefit will be maintained.

Supporting Documents

City Center Zone of Claremont 79E District
City Council Resolution Adopting 79E - amended September 12, 2018 to include the City Center Zones as eligible districts
Claremont Application
Covenant Template
Full Text of RSA 79-E

For further information please contact the Planning & Development Department at 603-542-7008.