This bill amends the existing property tax exemption laws for religious organizations by adding specific provisions for rental properties owned by these entities. The new language inserted into RSA 72:23 includes a definition of a "religious organization" and outlines the conditions under which these organizations can claim tax exemptions. Specifically, it allows a religious organization to be exempt from taxation on one church parsonage or similar residential real estate, and/or one worship building, provided that any rental income generated is used for the religious leader's compensation, maintenance of the properties, or funding standard religious programs.

Additionally, the bill stipulates that an organization can only claim one exemption under this new provision. The effective date for this act is set for all taxable periods ending after December 31, 2024, and it will take effect upon passage. The bill aims to support religious organizations by easing their financial burdens related to property taxes, thereby allowing them to allocate more resources towards their religious activities and community services.

Statutes affected:
Introduced: 72:23