Elderly Tax Exemption Information

 

This Exemption reduces the taxable value of the real estate for qualified taxpayers as follows:

 

For a person 65 years of age up to 75 years, a reduction of $60,000 from the assessed value;

For a person 75 years of age up to 80 years, a reduction of $80,000 from the assessed value; and

For a person 80 years of age or older, a reduction of $100,000 from the assessed value.

 

Application Criteria:

• Applicant must be 65 years old as of April 1st of the tax year applying. (Married couples, the eldest should apply)
• Applicant must have resided in the state of New Hampshire for at least three years prior to year of application.
• Applicant must own real estate individually, own jointly or in common with another or be married to an individual for at least five years who owns real estate within the community.
• Property must meet the definition of a residential real estate, per RSA 79:39-a (c), which includes the housing unit, which is the person’s principal home and related structures. It does not include attached dwelling units and unattached structures used or intended for commercial or other non-residential purposes.
• Property cannot have been transferred to the applicant, from a person under the age of 65, and related to the applicant by blood or marriage, within the past five years.

 

 

 

Income:  For a single person, your net income may not exceed $40,000. If married, a combined net income may not be more than $80,000.

 

Assets: Excluding your home, if you are single, your assets may not exceed $100,000.  If married, your combined assets may not exceed $200,000.  Please note that assets include everything that is tangible and intangible.

 

Any resident who may be eligible must file an elderly exemption qualification worksheet along with the Permanent Application for Property Tax Credit/Exemption PA-29.  If your property is held in a trust, you must complete a Statement of Qualification PA-33 along with the Permanent Application for Property Tax Credit/Exemptions PA-29.  

 

 

The application forms are listed below.  Once completed, please call the Selectmen's Office at 603-863-6021 for an appointment to review the application and required documents.