This bill introduces a new annual surcharge of 0.75% on the assessed market value of residential properties classified as non-primary residences, defined as properties not serving as the owner's principal place of abode for at least 183 days per year. The bill amends RSA 72 by inserting a new section, 72:6-b, which outlines the definitions, exemptions, and administrative requirements related to the surcharge. Exemptions are provided for properties that serve as the owner's primary residence, long-term rental properties, those valued below $500,000, and properties owned by individuals qualifying for certain exemptions. Additionally, property owners must certify their property's occupancy status annually, and failure to do so may result in an additional 10% surcharge.

The revenues generated from this surcharge will be allocated to the municipalities where the properties are located, specifically for reducing property taxes or funding local services such as education and infrastructure. Municipalities are required to maintain a registry of non-primary residences and report the collected revenues to the Department of Revenue Administration. The bill also allows property owners to appeal the classification of their property as a non-primary residence within 30 days of receiving their tax bill. The effective date for the implementation of this surcharge is set for April 1, 2027.