Op-Ed: Protect North Country Towns and Industries by Passing HB 123

CLINE: House Bill 123 Creates an Income Tax Disguised as a Property Tax

This article originally appeared at JBartlett.org. New Hampshire legislators have devised various schemes over the years to protect the logging industry from market forces. The latest scheme comes in House Bill 123, as amended. Promoted as “closing a loophole” in the state’s Timber Tax, HB 123 in fact creates a new tax on revenues generated from sales of carbon credits. The new tax blends features of property taxation and income taxation. Though…

Op-Ed: Protect North Country Towns and Industries by Passing HB 123

By Coos County Commissioners New Hampshire’s yield tax on timber, often called the “timber tax,” was established in 1949 and has been locally collected to offset property taxes ever since. The tax is constitutionally permitted by an amendment to Part II, Article V of the state constitution, which was ratified in 1942 by over two-thirds of New Hampshire’s voters. The yield tax on timber has been an essential tool for promoting conservation, helpi…

House Bill 123 creates an income tax disguised as a property tax - THE JOSIAH BARTLETT CENTER FOR PUBLIC POLICY

New Hampshire legislators have devised various schemes over the years to protect the logging industry from market forces. The latest scheme comes in House Bill 123, as amended. Promoted as “closing a loophole” in the state’s Timber Tax, HB 123 in fact creates a new tax on revenues generated from sales of carbon credits. The new tax blends features of property taxation and income taxation. Though it gives the appearance of using assessed value as…

Protect North Country towns and industries by passing HB 123 - NH Business Review

New Hampshire’s yield tax on timber, often called the “timber tax,” was established in 1949 and has been locally collected to offset property taxes ever since. The tax is constitutionally permitted by an amendment to Part II, Article V of the state constitution, which was ratified in 1942 by over two-thirds of New Hampshire’s voters. The yield tax on timber has been an essential tool for promoting conservation, helping the timber industry, and s…