The New Hampshire Department of Revenue Administration is offering property-tax relief for qualifying low- and moderate-income homeowners. Single people who earn less than $20,000 are eligible to apply. A couple filing jointly can earn up to $40,000 and still qualify for the tax-relief program. Homestead owners who pay state education property tax are also eligible.
The application is due June 30. Last year, over $880,000 was distributed through the program, which started in 2002. The program has not changed since last year, but New Hampshire Department of Revenue Administration Commissioner Lindsey Stepp said there may be more applicants this year as incomes have dipped during the pandemic.
New Hampshire ranks third in the nation for the highest property taxes, behind only New Jersey and Illinois, according to census data aggregated by WalletHub. The state’s effective real estate tax rate is 2.18%. Hawaii has the nation’s lowest tax rate at just .28%. In New Hampshire, the median home value is $261,700. The national median is $217,500.
The relief program is an attempt to aid in the economic recovery from the COVID-19 pandemic. “Although the COVID-19 situation has improved from this time last year, we understand that many face financial challenges,” Stepp said.
The amount of relief varies based on income brackets, with single people who earn less than $12,500 eligible for 100% tax relief. A couple earning $25,000 or less also qualifies for 100% relief.