CONCORD – House Speaker William O’Brien and House Deputy Speaker Pam Tucker today offered the following comments in response to news yesterday evening that the Local Government Center (LGC) has been ordered to rebate taxpayers over $52 million in excess payments. A hearings officer ruled that LGC overcharged taxpayers for insurance products over the past decade and must repay those funds and reorganize its insurance risk pools to be in compliance with state and federal law, or lose its tax and regulatory exemption under RSA 5-B.
House Speaker William O’Brien
“This ruling is a significant victory for the hardworking property taxpayers across the state. By overcharging communities across New Hampshire for insurance products, LGC artificially increased tax rates for its member communities. This ruling should mean a one-time tax rate reduction through this payment, as well as lower rates in the long term, as LGC brings the rates it charges its members more in line with actual costs. I commend the hard work of Secretary Bill Gardner and the Bureau of Securities Regulation for achieving this important taxpayer win.”
House Deputy Speaker Pam Tucker
“This ruling is an important step to provide property tax relief for the many communities that participate in the LGC. However, we need to do more to bring structural reform to the quasi-public, pooled risk management programs. It certainly is disappointing that the House and Senate were unable to come to an agreement on the changes necessary to update our state laws in this session, but we will continue to our efforts next year to bring oversight and accountability to these taxpayer funded groups.”