New Hampshire Code of Administrative Rules
Cub - Chairman, Current Use Board
Chapter Cub 300 - CRITERIA FOR OPEN SPACE CURRENT USE ASSESSMENT
Part Cub 304 - CURRENT USE ASSESSMENT OF OPEN SPACE LAND
Section Cub 304.04 - Farm Land Assessing Factors and Use of the Soil Potential Index (SPI)

Universal Citation: NH Admin Rules Cub 304.04

Current through Register No. 40, October 3, 2024

(a) A landowner may require the municipal assessing officials to use the most recent SPI in determining the assessed value of a parcel or tract of farm land by providing either:

(1) A single SPI for the entire parcel or tract of farm land; or

(2) A separate SPI for each separate parcel of farm land.

(b) When a landowner provides the SPI, the municipal assessing officials shall use the SPI to determine the assessed value of that parcel or tract of farm land as follows:

(1) The low end shall be subtracted from the high end of the farm land assessment range;

(2) The difference Amended by (1) above shall be multiplied by the SPI provided by the landowner; and

(3) The dollar amount of the low end of the farm land range shall be added to the product Amended by (2) above.

(c) When a landowner does not provide an SPI for the parcel or tract of farm land, the municipal assessing officials in determining the assessed value of the farm land shall consider other factors that might affect the income producing capability of the farm land such as:

(1) Elevation and steep slopes;

(2) Rocks and quality of the soil;

(3) Location and accessibility;

(4) Availability of water for irrigation; or

(5) Other physical attributes.

(d) The assessed value of farm land shall be equalized by multiplying the assessment by the municipality's most recent department of revenue administration median equalization ratio pursuant to RSA 79-A:5, I; and

(e) For the tax year in which the municipality has undergone a full revaluation or a full statistical revaluation, the assessed value of farm land shall be equalized by multiplying the assessment by 100%.

#5343, eff 3-05-92 (See Revision Note at chapter heading for Cub 300); amd by #5591, eff 2-25-93; ss by #6720, eff 3-27-98; ss by #8571, eff 2-18-06 (from Cub 304.02(d)-(f) )

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