New Hampshire HB1647 modifies farm structure tax assessments and penalties for conversion to non-farm use.

New Hampshire HB1647 amends tax laws for farm structures, requiring municipalities to adopt these changes by April 1, 2027. It defines "qualifying farm structure" and sets tax penalties for converting farm land to non-farm use. If conversion occurs within five years of reduced assessment, the tax equals the difference between actual and full market value taxes. For conversions after five years, the tax is 10% of the full market value. Unpaid taxes accrue interest and may result in a lien on the property. Owners must notify local tax assessors of any disqualifying changes within 60 days.

New Hampshire HB1647 modifies farm structure tax assessments and penalties for conversion to non-farm use.

New Hampshire HB1647 amends tax laws for farm structures, requiring municipalities to adopt these changes by April 1, 2027. It defines "qualifying farm structure" and sets tax penalties for converting farm land to non-farm use. If conversion occurs within five years of reduced assessment, the tax equals the difference between actual and full market value taxes. For conversions after five years, the tax is 10% of the full market value. Unpaid taxes accrue interest and may result in a lien on the property. Owners must notify local tax assessors of any disqualifying changes within 60 days.