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NH HB1707
Bill
Status
12/12/2025
Primary Sponsor
Ellen Read
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AI Summary
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Imposes an additional state tax equal to 100% of local property taxes on properties that are unoccupied or used as short-term rentals for at least 6 months of the tax year, with revenue going to the Department of Revenue Administration
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Creates a one-time exemption from the Real Estate Transfer Tax for first-time homebuyers who have household income at or below 100% of area median income for a 3-person household
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Extends the transfer tax exemption to sellers who transfer property to qualifying low- and moderate-income first-time buyers
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Estimated to generate approximately $922.6 million annually in new state revenue from the unoccupied housing tax, based on roughly 47,249 second homes with total assessed value of $24.9 billion
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Requires $300,000 in FY 2027 for implementation costs; effective date of April 1, 2027
Legislative Description
Creating an additional property tax for certain unoccupied properties and creating a housing transfer tax exemption for certain low- and moderate-income home buyers.
Last Action
Inexpedient to Legislate: Motion Adopted Voice Vote 02/12/2026 House Journal 4
2/12/2026