The "New Hampshire Fair Property Tax Relief Act" aims to enhance property tax relief for elderly and disabled individuals while improving public awareness of available tax exemptions and credits. Key provisions include requirements for municipalities to post application instructions for tax exemptions in tax collectors' offices and on resident tax bills. The bill mandates the commissioner of the Department of Revenue Administration to submit an annual report on the effectiveness of the low and moderate income homeowners property tax relief program. Additionally, it establishes a committee to study various tax relief proposals, including capping property tax liability as a percentage of household income and providing automatic tax relief for qualifying seniors.

Significant changes to eligibility criteria are proposed, including increasing the asset limit for elderly and disabled persons from $35,000 to $50,000, with annual inflation adjustments. The minimum exemption amounts for various age categories will rise from $5,000 to $7,500, and income thresholds for eligibility will be raised to $100,000 for single individuals and $110,000 for married individuals or heads of households. The bill also introduces an online application portal, reduces the certification timeframe for tax relief claims from 120 days to 90 days, and modifies the notification period for claim rejections from 90 days to 60 days. Existing statutes related to the low and moderate income homeowners property tax relief program will be repealed, indicating a shift in management. The committee is required to report its findings by November 1, 2025, while the fiscal impact is expected to be neutral in the short term, with increased expenditures anticipated starting in FY 2029.

Statutes affected:
Introduced: 72:37-b, 72:38-b, 72:39-a, 72:39-b, 198:57, 198:58, 198:61
HB782 text: 72:37-b, 72:38-b, 72:39-a, 72:39-b, 198:57, 198:58, 198:61