This bill establishes a method to equalize market value for property tax abatements. It adds a new section to RSA 76, stating that if an abatement is granted with a determination of market value, the market value of the property for a given tax year shall be equalized by multiplying the market value of the property by the previous tax year's median ratio as determined by the department of revenue administration. The market value of the property will be equalized at 100 percent in any tax year for which the municipality conducts a full reassessment.

The bill will take effect on April 1, 2024.