Bill > HB1227

This bill modifies the local tax cap calculation in New Hampshire to require that any new annual debt service approved through a bond vote at an annual or special meeting be included in the tax base once repayment begins. Specifically, the bill amends existing law to adjust how the tax cap is calculated by adding the newly approved annual debt service to the base amount before applying inflation and population adjustments. The tax cap is a mechanism that limits the amount of property taxes a local government can raise from one year to the next, with adjustments made for factors like inflation and population changes. The bill applies to tax caps already adopted by towns, village districts, and school districts, and does not require these localities to take additional steps to implement the change. The new provisions will take effect 60 days after the bill's passage, automatically applying to existing tax cap calculations without requiring local amendment or re-adoption.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1930&inflect=2