NH HB734

Redirects state education property tax revenue to be deposited into the education trust fund through the Department of Revenue Administration, rather than being paid directly to municipalities for school districts

Raises income eligibility limits for the low- and moderate-income homeowners property tax relief program from $37,000 to $65,000 for single persons and from $47,000 to $77,500 for married persons or heads of household

Expands tax relief calculations to include both local and state education tax rates, with a sliding scale rebate that decreases by 5% for each $2,000 of income above threshold amounts, capped at $1,100 per claimant and $30,000,000 total annually

Requires annual inflation adjustments for both the education tax revenue target of $363,000,000 and the property tax relief program income thresholds, based on the Consumer Price Index for the Northeast Region

Establishes a 7-member legislative study committee to examine extending property tax relief to renters, analyze the relationship between household income and property taxation, and develop recommendations for a statewide property tax deferral program by November 1, 2025