The "New Hampshire Fair Property Tax Relief Act" seeks to enhance property tax relief for elderly and disabled individuals by increasing awareness of available tax exemptions and credits. Key provisions include the insertion of requirements for municipalities to provide clear application instructions for tax exemptions in tax collectors' offices and on resident tax bills. The bill raises the net asset limit for tax exemptions from $35,000 to $50,000, which will be adjusted annually for inflation, and expands eligibility for the low and moderate income homeowners property tax relief program. Additionally, it mandates the establishment of an online application portal and requires the Department of Revenue Administration to submit an annual report on the program's effectiveness.

Significant changes also include raising the minimum exemption amounts for various age categories from $5,000 to $7,500, and increasing income thresholds for eligibility, allowing single individuals to earn up to $100,000 and married couples or heads of households up to $110,000 without losing tax relief. The bill establishes a committee to study various tax relief proposals, modifies the notification period for claim rejections from 90 days to 60 days, and repeals existing statutes related to the low and moderate income homeowners property tax relief program. While the bill does not allocate funding or authorize new positions, it anticipates a need for a tax examiner position starting in FY 2028 due to an expected increase in applications. The committee is required to report its findings by November 1, 2025, with certain provisions taking effect immediately and others in 2026 and 2036.

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