New Hampshire Revised Statutes 479-A:21 – Separate Taxation
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I. Each unit and its percentage of undivided interest in the common areas and facilities shall be deemed to be a parcel and shall be subject to separate assessment and taxation by each assessing unit and special district for all types of taxes authorized by law, including, but not limited to, special ad valorem levies and special assessments. Neither the building, the property, nor any of the common areas and facilities shall be deemed to be a parcel.
II. In the event the land or the building, including common areas and facilities, is separately owned and leased to the unit owner for a period of not less than 30 years and such lease, duly recorded, provides that the lessee shall pay all such taxes, such unit and its percentage of undivided interest in the common areas and facilities shall be deemed to be a parcel and shall be separately assessed and taxed as aforesaid.
II. In the event the land or the building, including common areas and facilities, is separately owned and leased to the unit owner for a period of not less than 30 years and such lease, duly recorded, provides that the lessee shall pay all such taxes, such unit and its percentage of undivided interest in the common areas and facilities shall be deemed to be a parcel and shall be separately assessed and taxed as aforesaid.
Terms Used In New Hampshire Revised Statutes 479-A:21
- Building: means a building or group of buildings having a total of 5 or more units and comprising a part of the property. See New Hampshire Revised Statutes 479-A:1
- Common areas and facilities: unless otherwise provided in the declaration or lawful amendments thereto, means and includes: the land on which the building is located. See New Hampshire Revised Statutes 479-A:1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means and includes the land, the building, all improvements and structures thereon, all owned in fee simple absolute or leased as provided in N. See New Hampshire Revised Statutes 479-A:1
- Unit: means a part of the property intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floors (or part or parts thereof) in a building, and with a direct exit to a public street or highway or to a common area leading to such street or highway. See New Hampshire Revised Statutes 479-A:1
- Unit owner: means the person or persons owning a unit in fee simple absolute, or leasing a unit as provided in N. See New Hampshire Revised Statutes 479-A:1