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Committee hears mixed testimony on SB 173 to standardize taxes for low‑income housing projects
Summary
SB 173 would clarify how low‑income housing projects are taxed by specifying a 10% of gross rental income method for certain projects; developers and housing advocates supported the predictability, while municipal associations warned of potential tax‑shift and local revenue impacts.
Senator Keith Murphy, prime sponsor: The committee opened SB 173, legislation intended to clarify the calculation method for tax assessments on properties participating in the low‑income housing tax credit (LIHTC) program. Senator Keith Murphy told the committee the bill would standardize use of a 10% of actual rental and other income approach for qualifying low‑income housing projects to reduce widely varying local calculations and provide predictability.
Supporters: Matt Mayberry, CEO of the New Hampshire Home Builders Association, urged support, telling the panel SB 173 ‘‘updates how towns and the…
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