Residential Property Revitalization Zone

Qualifying Structures

A “qualifying structure” under RSA 79-E:4-b is an existing residential structure with City water and sewer access that is at least 40 years old and has no more than 4 units.

Tax Relief Period

The City Council decides the duration of tax relief. They may grant:

• Up to 5 years – For significant improvements
• +2 years – If your project adds new residential units
• +4 years – If the property is listed (or eligible) on the National Register of Historic Places

RPRZ application

Step 1: Submit Your Application

Complete the RPRZ application.

Step 2: Staff Review

City staff will review your application to make sure it is complete. We will contact you if more information is required.

Eligibility Criteria – To be eligible, projects must be for properties that have City water and sewer service, and projects must:

• Cost at least 15% of the pre-rehabilitation assessed value or $50,000, whichever is less, and
• Create at least one new housing unit or resolve significant life-safety or health risks for an existing housing unit.

Minimum Public Benefits – Projects must include at least one of the following public benefits:

(Projects that provide more than one public benefit may receive a longer period of tax relief.)

• Creates at least one new housing unit.
• Addresses significant life-safety or health issues of an existing unit.
• Improves/enhances a historically significant structure.
• Maintains owner-occupancy or returns the building to owner-occupancy.
• Increases livability via flood proofing (if in a flood zone), remediating contamination (e.g., lead, asbestos), and/or significantly improving energy performance.
• Results in a net-zero home that produces as much (or more) energy as it consumes.

Step 3: Public Hearing (Within 60 Days)

Once the application is complete, the City Council will hold a public hearing within 60 days. This gives the public a chance to learn about the project and share input.

Step 4: City Council Vote (Within 45 Days)

After the hearing, the City Council has 45 days to vote on an application. If approved, they will also decide the duration of tax relief.

Step 5: Record a Covenant

If your project is approved, you must sign and record a covenant with the City at the Cheshire County Registry of Deeds.

• This legal document protects the agreed-upon public benefits and ensures the building is used and maintained as promised.
• The covenant can last up to twice as long as the tax relief period.
• You are responsible for any recording fees.

Step 6: Complete the Project

You can begin work only after:

• The City Council has approved your project, and
• You’ve signed and recorded the covenant

Once these steps are complete, construction or rehabilitation may begin.

Step 7: Tax Relief Period Starts

After the project is complete, tax relief shall be calculated on the value in excess of the original assessed value, as per RSA 79-E:4-b

Per RSA 79-E:4-b, this tax base is set only after:

1. City Council approval, and
2. The covenant is signed.

After the relief period ends, your property will be taxed at its full market value.