Milford Community Revitalization Tax Relief Incentive Program (RSA 79-E)
On March 11, 2017, the Town of Milford adopted the provisions of RSA 79-E. The Community Revitalization Tax Relief Incentive (RSA 79-E) Program allows the Town to provide a temporary period of limited tax relief for property owners who wish to undertake substantial rehabilitation of a qualifying structure which will provide at least one public benefit. Under the statute, use of the 79-E program is limited to designated or recognized downtowns, town centers, or village centers such as the Milford Oval District. Click to learn more.
Milford Tax Exemption for Industrial Properties (RSA 72:81)
On March 13, 2018, the Town of Milford adopted the provisions of RSA 72:81. The law allows an exemption of municipal and local school property taxes for new construction for industrial uses. The exemption applies to the increase in assessed value attributable to construction of new structures, and additions, renovations, or improvements to existing structures. The exemption does not apply to state education property taxes and county taxes. Click to learn more.
Economic Revitalization Zone Business Tax Credit
The New Hampshire Division of Economic Development offers a business tax credit for projects that are located in designated zones called Economic Revitalization Zones (ERZs). The ERZ tax credit program, which is detailed in RSA 162-N, offers a short term business tax credit for projects that improve infrastructure and create jobs in designated areas of a municipality. A community must request that a site or contiguous area be designated as an ERZ by the Division of Economic Development. Each ERZ is evaluated every five years to assess whether the designation is still eligible. Once approval of the zone has been granted, businesses located in the zone may each apply for the business tax credits based on specific projects. Click to learn more about ERZs and to download an application.