Bill > HB734

This bill makes several key changes to the state education property tax and the low- and moderate-income homeowners property tax relief program. Beginning July 1, 2025, the Department of Revenue Administration will set an education tax rate designed to generate $363,000,000 in revenue, with an annual adjustment for inflation. The bill requires municipalities to pay all education property tax revenues directly to the Department of Revenue Administration for deposit in the education trust fund, rather than keeping the funds locally. The low- and moderate-income homeowners property tax relief program is significantly modified, including raising income eligibility thresholds (for example, from $37,000 to $65,000 for single persons) and changing the calculation of tax relief percentages. The bill also mandates that tax bills include more explicit information about the property tax relief program and requires the Department of Revenue Administration to proactively mail application forms to previous recipients. Additionally, the bill establishes a legislative study committee to examine the property tax relief program, including potential extensions to tenants and the development of a statewide property tax deferral program. The committee is required to report its findings by November 1, 2025, with the changes applying to taxable periods ending on or after April 1, 2026.

Education

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=0761&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB734