In New Hampshire, property taxes are the key revenue source for local governments. Tax rates, land use, and land value from one end of town to the other often vary in surprising ways.
To better understand the economic and policy implications of these three property tax elements, New Hampshire Housing contracted with Joe Minicozzi of Urban3 to analyze what types of development create the greatest tax return in 15 communities around the state.
“Communities often believe that big box stores and strip malls are the high value development that they should be incentivizing,” said Shanna B. Saunders, Planning Director for the City of Rochester. “Mr. Minicozzi’s study shows that is clearly not the case. This is important info that should shift the way New Hampshire’s downtowns Plan and Zone.“
In a highly engaging webinar on Thursday, October 15 at 10 AM, Minicozzi will launch his first presentation and provide an overview of his analysis of property tax revenues in Berlin, Claremont, Concord, Dover, Exeter, Hanover, Hudson, Keene, Laconia, Lebanon, Nashua, Pelham, Peterborough, Portsmouth, and Rochester.
Saunders adds that the City of Manchester NH hired Mr. Minicozzi in 2018 to study its Revenue sources from Land Development “I saw that presentation and it is stunningly eye-opening and translates to every City in New Hampshire.”
By using data to create 3D visualizations, Urban 3’s analysis reveals the potential for improving the fiscal health of these 15 communities. The visuals show what types of development create the greatest tax return for communities, and create a clear and data-driven understanding of the economics of place. With these 3D depictions of its data, a community has a tool to make public policy adjustments, with the goal of creating long-term financial resiliency.
Joseph Minicozzi, AICP is the principal of Urban3, which looks at how land is used and affects tax productivity. He is an urban planner who utilizes new ways to think about and visualize land use, urban design, and economics.
Register for these free, virtual presentations at www.nhhfa.org/event/minicozzi-event-taxes-land-use-value-in-nh.