Under New Hampshire law, all of the following statements about the Current Use Taxation Program (RSA Chapter 79-A) are TRUE EXCEPT:
Correct Answer
C) The land use change tax is automatically waived if the new owner retains the land in agricultural use for at least five years.
The statement in option C is false: RSA Chapter 79-A does not provide an automatic waiver of the land use change tax if the new owner retains the land in agricultural use for five years. The land use change tax is triggered at the time of the change in use or ownership that removes the land from Current Use, and there is no such five-year retention waiver provision in the statute. This is a fabricated rule that does not exist under NH law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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