This bill amends the current 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, it stipulates that an organization can only claim one exemption under this provision.

The bill also includes a deletion of previous language that may have limited the scope of property tax exemptions for religious organizations. The effective date of this act is set for all taxable periods ending after December 31, 2024, and it will take effect upon passage. This legislation aims to support religious organizations by providing them with financial relief through property tax exemptions, thereby allowing them to allocate more resources towards their religious activities and community services.

Statutes affected:
Introduced: 72:23