NH HB1417

Authorizes New Hampshire municipalities to adopt a land value tax (LVT) system where land and improvements are assessed separately, allowing land to be taxed at a higher rate than buildings or structures

Municipalities may choose between a "split-rate tax" (land taxed higher than improvements) or a "pure land tax" (zero tax on improvements), with adoption requiring a public hearing and majority vote of the legislative body

Implementation must be revenue-neutral in the first year and may be phased in over 2-5 years; municipalities must establish a circuit breaker to reduce or defer taxes for low- and moderate-income residents

Appropriates $1 to the Department of Revenue Administration for FY 2027, though the fiscal note estimates actual implementation costs would exceed $2 million for system upgrades

Requires the Department of Revenue Administration to submit a sunset review report by January 1, 2032 evaluating fiscal, housing, and economic outcomes, with the act taking effect January 1, 2027