Bill > HB1293

This bill modifies the property tax exemption for charitable organizations in New Hampshire by introducing a new provision that taxes the portion of a charitable organization's property value exceeding $1,000,000. Currently, charitable organizations are completely exempt from property taxes for buildings, lands, and personal property used directly for their established purposes. Under the new legislation, any property value above $1,000,000 in a single municipality will be taxable at the local municipal tax rate. The bill allows individual municipalities to increase the exemption threshold through a vote at an annual town meeting or by city governing bodies. Additionally, if a charitable organization and a municipality create a voluntary payment-in-lieu-of-taxes agreement, the new taxation provision would not apply during the agreement's duration. The bill is scheduled to take effect on April 1, 2027, giving municipalities and charitable organizations ample time to prepare for the potential tax changes.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2013&inflect=2