Bill Text: NH HB202 | 2024 | Regular Session | Introduced
Bill Title: Relative to property tax abatements.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2024-07-26 - Signed by Governor Sununu 07/19/2024; Chapter 210; eff. 04/01/2025 [HB202 Detail]
Download: New_Hampshire-2024-HB202-Introduced.html
HB 202 - AS INTRODUCED
2023 SESSION
23-0477
05/10
HOUSE BILL 202
AN ACT relative to property tax abatements.
SPONSORS: Rep. Janigian, Rock. 25; Rep. Piemonte, Rock. 9
COMMITTEE: Municipal and County Government
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ANALYSIS
This bill establishes a method to equalize market value for purposes of calculating property tax abatements.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23-0477
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to property tax abatements.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Apportionment, Assessment and Abatement of Taxes; Abatement. Amend RSA 76 by inserting after section 16-e the following new section:
76:16-f Abatement; Equalization of Market Value. If an abatement is granted under RSA 76:16, RSA 76:16-a, or RSA 76:17, 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 under RSA 21-J:3. The market value of the property shall be equalized at 100 percent in any tax year for which the municipality conducts a full reassessment in accordance with RSA 75:1 and RSA 75:8-a.
