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Peterborough selectmen give tax relief to brewery in historic G.A.R. Hall

  • The Peterborough Select Board approved a request for tax relief by the owners of Post and Beam Brewing during its meeting Tuesday. Staff photo by Ashley Saari—Monadnock Ledger-Transcript

  • The Peterborough Select Board approved a request for tax relief by the owners of Post and Beam Brewing during its meeting Tuesday. Staff photo by Ashley Saari—Monadnock Ledger-Transcript



Monadnock Ledger-Transcript
Wednesday, October 03, 2018 10:30AM

The Peterborough Select Board voted Tuesday to give tax relief to Post and Beam Brewing for at least the next five years.

Post and Beam applied to the town for tax relief through a revitalization program adopted by the town several years ago. Post and Beam is the first to apply for the program.

Outlined in state RSA 79-e, the tax relief program allows home and business owners to have an “assessment freeze” on buildings where they have invested a significant amount of capital in improving. For up to five years, the town can choose to assess the building at the level it was prior to improvements. Because of the historical significance of the building, the selectmen also had the option to add a further four years on top of that to the tax relief.

In order to qualify for the tax relief, the building must be in a specified district, and either enhance downtown economic vitality, enhance a historically important structure, promote the development of the downtown district or increase downtown housing.

Town Administrator Rodney Bartlett told selectmen the former G.A.R. Hall, where Post and Beam is located, had been assessed at $172,000 shortly before being sold, and that due to structural problems, the property was ultimately sold for $100,000 to Erika Rosenfeld and Jeff Odland.

“In this particular case, it was estimated by the owners of Post and Beam Brewery that they had invested in excess of $500,000 in land acquisition and improvements inside,” Bartlett told selectmen at a Sept. 18 meeting.

With the improvements, Bartlett said, the value of the property was currently assessed at $470,000, and the owners were requesting that it be assessed at its purchasing value, $100,000.

The board first heard the proposal during a public hearing during its Sept. 18 meeting, and held off on making a decision until Tuesday, where it ultimately made a swift decision in favor of granting the tax relief.

“It’s a wonderful incentive for people to pump money into a building that needs renovation,” Select Board Chairwoman Barbara Miller said.

“Clearly it was a building that was in rough shape, and they’ve put a lot of money into it,” Selectman Tyler Ward said. “To see people coming and going to see lights on there, and people on the patio and the life back in the building. …I think they did a great job.”

The board approved the assessment freeze on the building for the next five years, and left open the possibility for Rosenfeld and Odland to re-apply for a further four years at that time. The board agreed unanimously to the motion.

Ashley Saari can be reached at 924-7172 ext. 244 or asaari@ledgertranscript.com. She’s on Twitter @AshleySaariMLT.