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Low and Moderate Income Homeowners Property Tax Relief Applications Due June 30

The Low and Moderate Income Homeowners Property Tax Relief program is a rebate program operated by the State of New Hampshire’s Department of Revenue Administration that provides a relatively small amount of property tax relief to homeowners with limited incomes. Applicants have until June 30, 2019 to apply for a rebate, and may find the required forms on the Department of Revenue Administration’s website.

Eligible homeowners must earn $20,000 per year or less for a single homeowner or $40,000 per year or less if a person is married or a head of a household. The rebate is based on the assessed value of the property, with a cap in the calculation limiting consideration to the first $100,000 of estimated property value. The rebate is higher for those with lower incomes, based on different income brackets ranging from less than $12,500 for a single person up to a $35,000 to $40,000 bracket for a married person or head of a household. These dollar figures are not adjusted for inflation, and were first written into law in 2001. There are bills that were considered both in the House and the Senate during the 2019 Legislative Session to update these figures, but both have been tabled or rereferred after passing their originating chamber.Graph of Claims Accepted and Average Rebate

The average rebate is relatively small compared to the overall amount of property taxes paid per capita in New Hampshire, and program use has been decreasing even as the inflation-adjusted aggregate amount levied by property taxes statewide has been increasing. The estimated amount of property tax revenue collected in New Hampshire during 2016, based on a survey of state and local governments conducted by the U.S. Census Bureau, was about $3,000 per capita, including people who do not own homes and for each member of a family who might be living in a home. The average amount of property tax relief provided through the Low and Moderate Income Homeowners Property Tax Relief program was approximately $170 in both 2016 and 2017, based on historical claims data from the Department of Revenue Administration.

The program provides a rebate relative to the homeowner’s liability under the Statewide Education Property Tax, which accounts for about 10 percent of all property taxes paid to the State and to local governments in New Hampshire combined. Most property taxes are paid to local governments, such as counties, municipalities, and school districts, which have very limited options for collecting tax revenue other than the property tax.

For more information on the sources through which the State raises revenue, see NHFPI’s Revenue in Review resource.

 

Low and Moderate Income Homeowners Property Tax Relief Applications Due June 30 (PDF)

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New Hampshire’s Minimum Wage Falls Further Behind

6 Jan 2020

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The federal minimum wage is the lowest hourly wage that can be paid to most workers anywhere in the nation. Since its inception at the national level in 1938, when only certain workers were covered, the wage has increased and encompassed more types of employees over time. State law sets New Hampshire’s minimum wage to the federal minimum level, currently at $7.25 per hour. An individual working 40 hours per week at this wage will make about $15,000 per year, assuming they work all 52 weeks. This income level is below the federal poverty guidelines for all households other than a single person, and well below the levels for households that include a partner and children.