New Hampshire HB 734: relative to the state education property tax and the low- and moderate-income homeowners property tax relief program.

Bill Text

HB 734-FN - AS INTRODUCED

2025 SESSION

 25-0761

 07/05

HOUSE BILL 734-FN

AN ACT relative to the state education property tax and the low- and moderate-income homeowners property tax relief program.

SPONSORS: Rep. Ames, Ches. 13; Rep. Luneau, Merr. 9

COMMITTEE: Education Funding 

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ANALYSIS

 This bill:

 I. Requires the department of revenue administration to receive the revenues from the state education property tax and deposit them in the education trust fund.

 II. Revises the procedures for calculating state education grants.

 III. Modifies the criteria for relief under the low- and moderate-income homeowners property tax relief program.

 IV. Establishes a committee to study the low- and moderate-income homeowners property tax relief program.

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Explanation: Matter added to current law appears in bold italics.

 Matter removed from current law appears [in brackets and struckthrough.]

 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

 25-0761

 07/05

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty Five

AN ACT relative to the state education property tax and the low- and moderate-income homeowners property tax relief program.

Be it Enacted by the Senate and House of Representatives in General Court convened:

 1 Taxation; Apportionment, Assessment and Abatement of Taxes; Education Tax. Amend RSA 76:3 to read as follows:

 76:3 Education Tax.

 I. Beginning July 1, 2025 [2005], and every fiscal year thereafter, the commissioner of the department of revenue administration shall set the education tax rate at a level sufficient to generate revenue of $363,000,000 when imposed on all persons and property taxable pursuant to RSA 76:8, except property subject to tax under RSA 82 and RSA 83-F. The education property tax rate shall be effective for the following fiscal year. The rate shall be set to the nearest 1/2 cent necessary to generate the revenue required in this section.

 II. The amount of $363,000,000 specified paragraph I shall be adjusted annually for inflation and rounded to the nearest $100 by the commissioner of the department of revenue administration based on the average change in the Consumer Price Index for All Urban Consumers, Northeast Region, as published by the United States Bureau of Labor Statistics. The average change shall be calculated using the calendar year ending 6-months prior to the beginning of the current fiscal year.

 2 Taxation; Apportionment, Assessment and Abatement of Taxes; Commissioner's Warrant. Amend RSA 76:8, II to read as follows:

 II. The commissioner shall issue a warrant under the commissioner's hand and official seal for the amount computed in paragraph I to the selectmen or assessors of each municipality by December 15 directing them to assess such sum and pay all revenue received to the department of revenue administration for deposit in the education trust fund. Such payments by municipalities shall be made in 4 quarterly installments in accordance with schedules, standards, and procedures established by rules adopted by the department of revenue administration after consultation with the commissioner of education. [it to the municipality for the use of the school district or districts.]Such sums shall be assessed at such times as may be prescribed for other taxes assessed by such selectmen or assessors of the municipality.

 3 Taxation; Apportionment, Assessment and Abatement of Taxes; Information. Amend RSA 76:11-a, II to read as follows:

 II. The tax bill shall also contain a statement informing the taxpayer of the types of tax relief for which the taxpayer has the right to apply. The statement shall explicitly list the low- and moderate-income homeowners property tax relief program specified by RSA 198:57 and shall include information on how to apply for the program. The following statement shall be considered adequate:

 "If you are elderly, disabled, blind, a veteran, or veteran's spouse, or are unable to pay taxes due to poverty or other good cause, you may be eligible for a tax exemption, credit, abatement, or deferral which can reduce your current property tax bill. For details and application information, contact (insert title of local assessing officials or office to which application should be made and deadline for application).

 Depending on your income, you may also be eligible for a refund of some of your taxes under the low- and moderate-income homeowners property tax relief program. To find out how to get a refund, call the New Hampshire Department of Revenue Administration at (insert current telephone number here) or visit the department’s website at (insert current website address here). Applications for refunds are due by June 30."

 This statemen