Bill > HB197

This bill, titled the "Property Tax Relief Act of 2025," aims to reduce the property tax burden on cities and towns by having the state cover a portion of retirement system contributions for local employers. Specifically, starting in state fiscal year 2026, the state will pay 7.5 percent of the total retirement contributions for Group I teachers and Group II members (which include firefighters and local police officers) employed by political subdivisions, meaning local governments will now only be responsible for 92.5 percent of these contributions. The state will continue to pay 100 percent of these contributions for its own employees. This change is intended to provide property tax relief and enhance public education and safety, with the state's General Fund expected to see increased expenditures starting in FY 2026 as a result of this shift in payment responsibility.

Budget and Finance, Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=24&inflect=2