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Council grants RSA 79‑E tax relief for downtown Pemico building, with covenant to limit future changes
Summary
After a public hearing and several public speakers in favor, the Laconia City Council approved RSA 79‑E tax relief for the Pemico building on Main Street, capping assessed valuation through March 31, 2031 and adding a covenant that voids the exemption on significant changes in occupancy or sale.
The Laconia City Council on March 24 approved tax relief under RSA 79‑E for the property at 622–634 Main Street (the Pemico building), following a public hearing that drew multiple speakers in support.
Under the council motion, the city will cap the assessed valuation of the property at $370,400 through March 31, 2031; after that date the property will be assessed at fair market value. The motion includes a covenant that will void the tax relief if the building is sold, in whole or in part, or if there is a ‘‘significant change to the occupancy type’’ that…
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