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Bill targets vacant and short‑term rental properties to free up housing, offers transfer‑tax exemption for low/mod buyers
Summary
Representative Ellen Reed introduced HB 1707 to penalize residential properties that are vacant or short‑term rented for more than half the year (state supplemental tax equal to the municipal tax burden) and to grant a one‑time transfer‑tax exemption to low‑ and moderate‑income buyers; Reed said the goal is behavior change, while opponents raised questions about municipal implementation and exemptions.
CONCORD — Representative Ellen Reed told the House Ways and Means Committee that HB 1707 is intended to move idle housing into the rental supply and make homeownership more affordable for low‑ and moderate‑income households. Reed described two linked elements: a transfer‑tax exemption for qualifying buyers and a steep supplemental tax on residential properties that sit vacant or operate as short‑term rentals for…
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