New Hampshire’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford. 

  • The 2023 state funds budget is $307 million higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $1.5 billion too much.
  • The 2023 all funds budget is $2.0 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $9.6 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $4.68
  • FY 2025 Only State Funds Budget Limit ($ Billions): $4.95
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.92%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $219
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $875
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $1,035
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $4,139

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $8.55
  • FY 2025 All Funds Budget Limit ($ Billions): $9.06
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.92%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $1,407
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $5,627
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $6,852
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $27,409

Other Considerations