NH HB1674

Creates a homestead tax exemption for lower-income property owners who have resided at their property for at least one year, have household income at or below 100% of the area median income for a 3-person household, own only one property as their primary residence, and have an assessed home value at or below the municipal average

Requires municipalities, cities, towns, and villages to hold a vote by warrant article at the next town meeting on whether to adopt the homestead tax exemption

Allows localities to adopt or rescind the exemption through normal warrant article procedure at any time after the initial vote

Amends multiple sections of RSA 72 to incorporate the new exemption into existing property tax administration procedures, including equalization of valuations and proration rules for fractional property interests

Takes effect April 1, 2027