There will be a Renewable Energy Tax Exemption warrant article on the ballot in Deerfield on Tuesday, June 8, 2021. The proposal comes word-for-word from the New Hampshire State website and is revenue-neutral. That means it will not cost Deerfield any revenue. It removes a disincentive for property owners to install renewable energy. The following informational video and fact sheet explain: (Click FULL SCREEN on video)
Renewable Energy Property Tax Exemption
(Based on information available at New Hampshire State websites, see below)
State law - RSA 72:61-72 permits cities and towns to offer exemptions from local property taxes for certain renewable energy installations. These include solar systems (thermal and photovoltaic), wind turbines, and central wood-fired heating systems. (Wood stoves and fireplaces are not included.)
"The goal of the exemption is to create a tax neutral policy within a municipality that neither increases an individual's property tax, nor decreases the municipality's property tax revenues.” (Quoted from the State of New Hampshire web site.)
By implementing it as a tax neutral policy, homeowners do not have a disincentive of higher property taxes for installing a renewable energy system, and since there is no net reduction in municipal tax revenues, other taxpayers in a municipality are not affected.
Below is a basic example of how the exemption might work:
$200,000 Assessed value of the property
+$20,000 Ad valorem* value of the renewable energy system
$220,000 New assessed value of the property
-$20,000 Portion of assessed value exempt from property taxes
$200,000 New assessed value of the property w/ the renewable energy exemption.”
-Twenty-five states currently offer such an exemption. In New Hampshire the exemption is passed by individual towns.
-Ten towns in our area have already adopted the exemption to help encourage individual renewable energy projects with a total of 118 towns across the state having enacted this tax policy.