When property classified as open space, is developed the “Land Use Change Tax” is assessed at a rate of 10% of the full and true value. This tax shall be due and payable to the town or city in which the property is located. The Town may place a lien on the property and may subject the owner of the real estate to a statutory collection Proceeding if the levy isn’t paid with in eighteen (18) months. The change of use will occur when construction begins, or when gravel or top soil is removed from the property.

Details of this subject can be reviewed under RSA section 79-A:7 or you can go directly to the state of New Hampshire’s general court statue regarding current use and change of use at: www.gencourt.State.NH.US/rsa/html/v79-A-7

The state of New Hampshire encourages the preservation of wide, open space that provides an attractive outdoor environment for work and recreation. It’s in New Hampshire’s best interest to maintain the character of the states landscape, while conserving the land, water, forest, agriculture and wildlife resources. To prevent the loss of open space due to high current tax rates, NH has developed a Current Use value which assesses open land based upon the income providing capability and not its Real Estate market value. This valuation is determined by the assessor in accordance with the range of value established by the Current Use board and based on the class, type, grade and location of the land.

There are many rules and regulations involved. Understanding all its finer points is very difficult, however, in short the Current Use law has helped preserve New Hampshire’s beauty and maintain its status as “one of the most livable states in the country” by allowing owner’s of large property to afford the land they own.

Stay tuned for more information to help you understand “Current Use” and how it applies.

Because they Don’t Make It Anymore! Raw land offers the greatest potential return of any available investment. With the increasing pressure of population growth, and rising personal income running head long into the fact there is only a fixed amount of land out there. All uses commercial, residential and recreational are forced to compete for the same land. This fact will lead to a carefully selected lot being worth much more than its present asking price. So long as your purchase is done without borrowed
funds the cost of ownership is generally minimal especially if you are able to purchase over 10 acres and retain the land in “current use.” There are no utility bills, on going maintenance or cost of repair with the purchase of land.

Call an experience agent and review all the benefits of real estate acquisitions and development planning.