’26 Article 34 – Short Term Tax Relief Incentive for Structures in Special Flood Hazard Area

To see if the Town will vote to modify its Community Revitalization Tax Relief Incentive Program previously adopted in 2011 pursuant to RSA 79-E:3 and vote to adopt the provisions of RSA 79-E:4-a and establish a Coastal Resilience Incentive Zone (“CRIZ”) within the Town of Hampton to include land located in a Special Flood Hazard Area, as defined by the Town’s zoning ordinances and as amended from time to time; to identify potentially impacted structures within the CRIZ as permitted by RSA 79-E:4-a; to define qualifying resilience measures that may be subject to tax relief such as, elevation and free-board renovations, elevation of mechanicals, construction of resilient natural features, enhancement or creation of tidal marshes, elevation of private driveways and sidewalks, construction or enlargement of private culverts and other structures to enable increased water flow and storm-surge, and movement of property to higher elevation on the property or to a newly acquired property at a higher elevation within the municipality; and to give authority to the Select Board to grant short-term property tax relief according to RSA 79-E.  This article does not impact the authority previously granted to the Select Board in 2011 under RSA 79-E.

What it means: In 2011, the Town adopted the Community Revitalization Tax Relief Incentive Program to encourage investment, rehabilitation, and redevelopment in designated areas of the Town in order make it more financially feasible for property owners to undertake substantial rehabilitation or replacement of underutilized, deteriorating, or vacant buildings. This Article looks to establish the Coastal Resilience Incentive Zone to include land located in the pre-defined Special Flood Hazard Area. This would allow the Town to identify potentially impacted structures and define qualifying resilience measures.  In addition, it would give the Board authority to grant short term tax relief to qualifying structures and improvements.

Discussion: No one spoke for or against the Article but rather questioned the length of “short term tax relief”.  It was clarified the term of the relief would be established at the time of the application of the relief.

Fiscal impact: There is no direct tax impact, but to the extent that this program is utilized, those properties will see lower tax impact – thus increasing the load for other taxpayers.