Milford Community Revitalization Tax Relief Incentive Program (RSA 79-E)
PROPOSED 2017 WARRANT ARTICLE
The Board of Selectmen is sponsoring a 2017 Warrant Article asking voters to adopt N.H. RSA 79-E, known as the Community Revitalization Tax Relief Incentive Program. Per the state statue, the program and newly designated district must be approved by the residents at the March 2017 Town vote before it can be offered to property-owners.
This program has been endorsed by the Milford Board of Selectmen, Milford Economic Development Advisory Council, Milford Planning Board, and Milford Improvement Team to promote improvements and investments in the greater downtown area.
The Board of Selectmen is seeking your support in adopting this local incentive program in March 2017.
WHAT IS RSA 79-E?
RSA 79-E is a property tax relief program that was adopted by the State in 2006 to encourage investment in central business districts, neighborhood business districts, downtowns, and village centers. The goal of the legislation is to encourage the rehabilitation and active reuse of under-utilized buildings to promote strong local economies, while promoting smart, sustainable growth, as an alternative to sprawl, in accordance with the purpose and objectives of RSA Ch. 9-B (State Economic Growth, Resource Protection, and Planning Policy)
WHY ADOPT RSA 79-E
-The Town benefits from the program by encouraging investment in older, underutilized, and/or historic buildings to promote a strong local economy and vibrant downtown.
-The Town would receive the long-term benefit of a larger tax base as a result of the investment in the property and rehabilitation or restoration project.
-The program benefits property and business owners by providing a financial incentive to be used towards the restoration and rehabilitation of structures.
For more information, please contact:
Lincoln Daley, Community Development Director
Phone: (603) 249-0620 Fax (603) 673-2273
Community Revitalization Tax Relief Incentive Map
Community Revitalization Tax Relief Incentive Program Handout
A Tool for Your Town: New Hampshire's Community Revitalization Tax Relief Incentive