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Miscellaneous Taxes

Current Use Assessment

It is hereby declared to be in the public interest to encourage the preservation of open space, thus providing a healthful and attractive outdoor environment for work and recreation of the state's citizens, maintaining the character of the state's landscape, and conserving the land, water, forest, agricultural and wildlife resources. It is further declared to be in the public interest to prevent the loss of open space due to property taxation at values incompatible with open space usage. Open space land imposes few if any costs on local government and is therefore an economic benefit to its citizens. The means for encouraging preservation of open space authorized by this chapter is the assessment of land value for property taxation on the basis of current use. It is the intent of this chapter to encourage but not to require management practices on open space lands under current use assessment.

Excavation Tax/ Gravel Tax

The State of New Hampshire has a real estate tax and earth (sand, gravel, loam, stone, etc) is considered to be part of the real estate, therefore taxable. Due to the difficulty of determining the market value of the earth products, and to deter the premature removal of earth products to avoid taxation, the legislature exempted earth from the real estate tax in 1998 and created the Excavation Tax under RSA 72-B. Earth, as defined in RSA 155-E:1, I, is only taxed at the time it is excavated at a rate of $0.02 (two cents) per cubic yard. The Excavation Tax is paid to the municipality in which the excavation took place.

Timber Tax/ Yield Tax

The State of New Hampshire has a real estate tax and by definition timber is considered to be real estate, therefore taxable. However, the method in which it is taxed is different from other real estate and is described in the State Constitution. Timber is only taxed at the time it is cut and at a rate, which encourages the growing of timber. In order for the municipal assessing officials to be aware of cutting operations they must be notified of the cutting by the owner filing a notice of intent to cut timber.