SB 102 Signed into Law
Contact Name: Marina Altschiller
Phone: (603) 271-3207
CONCORD – Yesterday, SB 102, a piece of omnibus legislation on property taxation, was signed into law. SB 102 contains LSR 0865, relative to a property tax relief program for qualifying residential property in a designated residential property revitalization zone (sponsored by Senator Kahn) and LSR 1031, allowing towns and cities to adopt a property tax exemption for certain renewable generation and energy storage systems (sponsored by Senator Prentiss).
Senator Jay Kahn (D-Keene) and Senator Sue Prentiss (D-West Lebanon) issued the following statements in response:
Senator Jay Kahn (D-Keene) stated, “Given New Hampshire’s housing shortage, the legislature needs to provide communities with the tools to revitalize low and moderate income housing. SB 102 allows property tax relief at the local level. It specifically allows communities the authority to designate a residential revitalization zone, establish tax incentives to restore neighborhoods, and leverage residential property investment, to support local economies. ”
Senator Sue Prentiss (D-West Lebanon) added, “In order to promote a modern economy, we must find avenues for reducing property taxes while protecting and preserving our environment. The property tax exemption for renewable generation and energy storage systems created through the passage of SB 102 does just that. I am proud to have introduced this language and am happy to see it signed into law.”