Due to an increase in federal funding, there are going to be many changes across the state when it comes to property taxes. This is going to allow granite staters to have integrity with their tax rates. Lower tax rates mean more money in our resident’s pockets. Then this will lead to more disposable income, creating more business for the state.
Also, with the new federal funding, there is going to be a lot of funds that going to allow the state to implement the very important infrastructure. $83 million dollars are going to be going to road and bridge construction. This is especially important in a place like New Hampshire because potholes arise due to the cold, and maintenance is expensive. This infrastructure money will also create jobs. More people working, better roads, it is a win-win situation.
To effectively lower the property taxes, the local city and town government just needs to follow the same reasoning towards local spending. For instance, since $30 million is additionally going to the school districts for building, this is a great start to cutting property tax because those funds are no longer needed to be taken from taxpayer pockets for schools in NH – if local leadership follows in the state’s fiscal responsibility footprints.