Bill > HB1021

This bill amends the existing law regarding the assessment of residential properties under the Low-Income Housing Tax Credit (LIHTC) program by changing the deadline for taxpayers to notify their municipality about their election to be assessed under this special program. Currently, taxpayers must provide written notice by October 1 preceding the tax year, but the bill changes this deadline to April 15. The Low-Income Housing Tax Credit is a federal program that provides tax incentives to encourage the development of affordable housing for low-income residents. The bill also maintains an existing provision that properties under construction as of April 1 of the tax year are not eligible for this special assessment. The changes will take effect on July 1, 2026, giving municipalities and taxpayers ample time to prepare for the new notification deadline.

Housing and Urban Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1542&inflect=2