modifying the statewide education property tax.

HB 1787 modifies New Hampshire's statewide education property tax system by requiring all tax revenues to be collected by local officials and deposited directly into the state education trust fund, rather than being handled by municipalities. It updates the low- and moderate-income homeowners property tax relief program and establishes a committee to study this program's effectiveness. The bill also mandates that tax bills include clear information about available relief programs, including the low-income homeowner program. These changes affect homeowners (particularly those eligible for tax relief) and ensure education funding flows through a centralized state trust fund for grants and tax relief payments. The tax rate is set to generate $378 million annually, increasing by 2% each year.