Bill > HB669

This bill modifies how the statewide education property tax is collected and distributed in New Hampshire, starting July 1, 2025. Currently, education property tax revenue goes to individual municipalities, but the bill requires that all such revenue be deposited directly into the state's education trust fund instead. The bill establishes a fixed education tax rate of $5.00 per $1,000 of property valuation, replacing the previous method of setting a rate to generate a specific total revenue amount (previously $363,000,000). Additionally, the bill repeals a section of law related to the determination of education grants. The changes aim to standardize education tax collection and ensure that all education property tax revenue is centralized in the state's education trust fund. The tax rate will apply to most taxable property, with some specific exceptions for certain types of property under existing tax laws. The bill is set to take effect on July 1, 2025, giving local governments and tax authorities time to prepare for the new system.

Budget and Finance

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=0341&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB669