HB187 (2005) Detail

Allowing municipalities to adopt a property tax cap for persons 80 years of age and older.


HB 187 – AS INTRODUCED

2005 SESSION

05-0007

10/09

HOUSE BILL 187

AN ACT allowing municipalities to adopt a property tax cap for persons 80 years of age and older.

SPONSORS: Rep. Hofemann, Straf 6; Rep. Brassard, Hills 17

COMMITTEE: Municipal and County Government

ANALYSIS

This bill allows towns and cities to adopt an addition to the elderly exemption which would cap the property tax bill of a person 80 years of age or older at a percentage of his or her income.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

05-0007

10/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Five

AN ACT allowing municipalities to adopt a property tax cap for persons 80 years of age and older.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Section Heading Changed. Amend the section heading of RSA 72:39-b to read as follows:

72:39-b Procedure for Adoption and Modification of Elderly Exemption; Optional Tax Cap for Persons 80 and Over.

2 New Paragraph; Property Taxation; Elderly Exemption; Tax Cap for Persons 80 and Over. Amend RSA 72:39-b by inserting after paragraph II the following new paragraph:

III.(a) In addition to the elderly exemption for person 80 years of age and older, a town or city may adopt a tax cap by the procedure in RSA 72:27-a.

(b) To qualify, the person must have been a New Hampshire resident for at least 5 consecutive years, own the real estate individually or jointly, or if the real estate is owned by such person's spouse, they must have been married to each other for at least 5 consecutive years.

(c) The town or city shall determine the percentage of net income or combined net income at which the taxpayer’s property taxes shall be capped. Any property taxes levied which exceed the cap for the taxpayer shall be the amount of a tax credit granted to the taxpayer.

3 Effective Date. This act shall take effect April 1, 2005.

Links

HB187 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB187 Revision: 8671 Date: Jan. 21, 2010, midnight

Docket