Bill > HB782

This bill, known as the "New Hampshire Fair Property Tax Relief Act", proposes several significant changes to property tax exemptions and relief programs. It requires municipalities to post detailed notices about property tax relief programs in tax collectors' offices and on tax bills, ensuring residents are informed about available exemptions, credits, and application processes. The bill increases net asset thresholds for property tax exemptions for disabled, deaf, and elderly persons from $35,000 to $50,000, with annual inflation adjustments. For the low and moderate income homeowners property tax relief program, it substantially raises income eligibility limits (for example, from $37,000 to $100,000 for single persons) and creates an online application portal. The bill also mandates that the Department of Revenue Administration submit an annual report detailing the program's effectiveness, including total tax relief provided, participant numbers, and fiscal impact. Additionally, the bill establishes a committee to study potential future property tax reforms, such as capping property taxes based on household income and exploring tax relief mechanisms for seniors and low-income residents. The changes will be implemented gradually, with most provisions taking effect on July 1, 2026, providing time for administrative preparation and public awareness.

Government Affairs

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=0486&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=HB782