NH HB1580

Creates a 0.75% annual surcharge on residential properties valued at $500,000 or more that are not the owner's principal place of abode (defined as residing there at least 183 days per year)

Exempts properties used as primary residences, long-term rentals leased 6+ months to the same tenant, properties under $500,000, and properties owned by veterans, disabled persons, or elderly persons qualifying for existing tax exemptions

Requires property owners to annually certify occupancy status by April 15, with willful misrepresentation resulting in an additional 10% surcharge penalty

Directs all surcharge revenues to municipalities for reducing property taxes or funding schools, infrastructure, conservation programs, or other community services

Effective April 1, 2027, with estimated state implementation costs of $75,000 and potential local revenue of approximately $15 million annually if 1% of single-family homes qualify