Elderly Exemption
If you are at least 65 years old prior to April 1st of the tax year and meet certain income and asset criteria, a portion of the assessed value of your property may be exempt from property tax.
EXEMPTION AMOUNTS:
Age 65 – 74: $35,000 of assessed value
Age 75 – 79: $50,000 of assessed value
Age 80+: $75,000 of assessed value
Your annual income must not exceed $20,500 if single and $30,000 if married. Income includes Social Security, pensions, annuities, interest, dividends, wages, and other miscellaneous income. Excluded are lie insurance paid on the death of an insured, proceeds from the sale of an asset, and expenses incurred in the course of conducting business.
Your assets must be less than $64,000. Assets include real and personal property, cash, certificates of deposit, IRAs, stocks, bonds and other assets. Exclude dis the value of the residence and necessary home site.
You must own the property, or own it jointly or in common with a spouse or other person who is not your spouse. The property may be owned by your spouse so long as you have been married for at least 5 years.
You must have been a NH resident for 3 years preceding the application.
You must have resided at the property on April 1st of the tax year.
To be considered for an elderly exemption, you must file an application by April 15th of the tax year. Once deemed eligible by Selectmen, exemption holders are not required to re-apply annually, but will be subject to periodic verification of continued eligibility.
Applications are available in the Selectmen’s Office or in the link shown below. If you need help filling out the form, please bring it to our office and we will be able to assist you