TAXES

Tax Structure For The 21st Century

This week the NH House voted overwhelmingly to establish a commission to study changes to state tax law. Goals include reducing the burden on property taxes under the current tax structure and evaluate the taxes and other revenue sources that provide the most revenue to the state with regard to their ability to foster or impede the goals of growth and to attract and retain the young people needed to reverse current demographic trends that threaten such growth. NH has experienced significant economic and demographic changes and this bill will help policy makers understand how to best deal with these accelerating changes.

The tax structure of NH is very complex and relies on many sources to support education, infrastructure, human services, recreation and law enforcement efforts. The Ways and Means Committee, on which I serve, acknowledges that being without a sales or income tax is what makes, and will continue to make, NH unique. The commission shall make proposals to adapt the state’s tax structure to these needs as it sees fit. The committee unanimously supported this bill as amended.