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NH s economy picks up the pace

NH s economy picks up the pace
concordmonitor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from concordmonitor.com Daily Mail and Mail on Sunday newspapers.

New Hampshire s education property tax rebate doesn t amount to much

NH Business Review Eligible homeowners receive an average of less than $200 May 12, 2021 The New Hampshire Department of Revenue Administration is reminding low-and moderate-income property-tax payers that they have until the end of June to apply for a rebate on their 2020 property tax bills – but the program applies only to the Statewide Education Property Tax and not to either the local school property tax or municipal property tax, which make up the bulk of a homeowner’s tax bill. While local property taxes are levied at variable rates according to the assessed valuation of municipalities, the Statewide Education Property Tax, or SWEPT, is levied at a fixed rate sufficient to raise $363 million.

Covid aid tax rule could stymie proposed New Hampshire tax cuts

NH Business Review American Rescue Plan provision bars states from using funds to reduce revenues April 20, 2021 As if the tensions between Governor Sununu, the New Hampshire House and Senate were not enough to potentially gum up the state budget process, a controversial provision of the American Rescue Plan Act poses another challenge for lawmakers in Concord. Section 9901 of the act prohibits states from applying the funds it distributes to “either directly or indirectly offset a reduction in net tax revenue arising from a change in law, regulation or administrative interpretation … that reduces any tax (by providing for a reduction in a rate, a rebate, a deduction, a credit or otherwise) or delays the imposition of any tax or tax increase.”

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