Berlinnhrealestateblog.com: Commercial Real Estate in Berlin, NH

Commercial Real Estate in Berlin, NH

Industrial/Commercial New Construction Tax Incentive Printer-Friendly Version


With the recent passage of a new ordinance by the Mayor and Council, the City of Berlin is now in a position to offer any business undertaking new industrial or commercial construction in the City a large property tax exemption for the first five years of use.
In summary, the ordinance provides that new commercial and industrial construction in Berlin is automatically eligible for city and school property tax exemptions according to the following table:
% Tax Exemption of Increased Assessed Value from New Construction
Uses Tax Year 1 Tax Year 2 Tax Year 3 Tax Year 4 Tax Year 5
Commercial Uses 25% 20% 15% 10% 5%
Industrial Uses 50% 40% 30% 20% 10%


A link to the actual ordinance follows:  http://berlinnh.gov/Pages/BerlinNH_IndustrialDev/Incentivesord/ordinance200814 
0 comments • Team NER • June 23 2009 05:36AM

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