Bill > HB1580

This bill establishes a 0.75 percent annual surcharge on residential properties that are not considered primary residences, targeting properties valued at $500,000 or more. A non-primary residence is defined as a property where the owner does not reside for at least 183 days per year or does not list the property as their primary address for voter registration, driver's license, or tax purposes. The surcharge will be levied in addition to standard property taxes and will not apply to properties used as principal residences, long-term rental properties leased for six or more consecutive months, properties valued under $500,000, or properties owned by individuals qualifying for specific exemptions. Property owners must annually certify their property's occupancy status by April 15, and willful failure to accurately report can result in an additional 10 percent surcharge. All revenues collected will be remitted to the municipality where the property is located and must be used exclusively for reducing municipal property taxes, funding local schools, infrastructure projects, conservation programs, or other community services. Municipalities will be responsible for maintaining a registry of non-primary residences and reporting surcharge revenues annually. Property owners will have the right to appeal their property's classification or the assessed surcharge to the municipal board of tax and land appeals within 30 days of receiving their tax bill. The bill is set to take effect on April 1, 2027, with the goal of generating additional local revenue and potentially discouraging the proliferation of vacation or investment properties.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2435&inflect=2