REGISTRATION NOW OPEN: The New Art of Utility Valuations Webinar
12:00 NOON TO 1:00 PM, WEDNESDAY, JULY 22,2020
Recent legislation, HB 700 (Chapter 117, Laws of 2019) established a uniform methodology for the valuation for local property tax purposes of utility company distribution assets.
Beginning May 1, 2020, every utility company must report to both the municipality and NHDRA, the original cost and net book value of each category of assets located within the municipality. The methodology will be phased in over a 5-year period. The value in the first year (the tax year effective April 1, 2020) will be a weighted average of 80 percent of the final locally assessed value for the 2018 tax year and 20 percent of the value determined using the methodology. The value determined using the methodology will be weighted an additional 20 percent in each subsequent year until the methodology is fully implemented in the fifth year.
Join Scott Bartlett, Assessor in the Town of Goffstown, and Catherine Capron, NHDRA’s Utility Tax Appraiser, who will review this new methodology being utilized in the determination of local utility values.