Elderly Exemption-

2023 Elderly Property Owners Exemption RSA 72:39-a

Applications accepted after January 1, 2023       -      Deadline to apply is April 15, 2023 

 

To qualify you must be:   65 years of age - and Owner of record on or before April 1, 2023

  • A resident of NH for 3 consecutive years on or before April 1, 2023
  • Married couples must have been married for 5 consecutive years on or before April 1, 2023. 
  • Property where exemption is claimed must be applicants principal place of abode, to the exclusion of others
  • If applicant received a transfer of real estate from a person under the age of 65; related to him by blood or marriage, within the preceding 5 years, no exemption shall be allowed - RSA 72:40a, limitations                                   

TOTAL INCOME from all sources including any retirement income and Social Security

Single person cannot exceed $45,000 per year     -    Married couples cannot exceed $55,000 per year

TOTAL ASSETS (as of the date of this application) excluding the value of your dwelling unit: 

      Single person cannot exceed $160,000   -    Married couple cannot exceed $160,000

  • Include all personal property such as cars, trucks, RV’s, trailers, antiques, furniture & jewelry.
  • Checking and Savings account balances.
  • CD’s, IRA’s, mutual funds, stocks, bonds, annuities, money markets, life insurance cash value, etc.
  • Any other real estate owned in the United States or Abroad (individually, jointly, in common, fractional) including land, mobile homes, condos, timeshares etc. Supporting documents must be supplied.
  • Other assets tangible or intangible less any good faith encumbrance.

All Income & Assets must be verified with the proper documentation:

  • 2022 Federal income tax return (if you file) including all W2’s, 1099’s, etc. 
  • 2022 Form SSA 1099 - Social Security Benefit Statement
  • 2022 VA benefits statements
  • 2022 Form 1099 -Unemployment benefits statement
  • Bank Statements – the most current 3 months (full copies) for all checking and savings accounts
  • Current statements for CD, IRA, 401K, stocks and/or bonds, money markets, “Surrender Value” of life insurance policies, etc. 
  • Property Tax Inventory Forms filed in any other town
  • Copy of your Trust and Trust Amendments. (Attorney’s affidavit may be required annually)
  • Driver’s license or Birth Certificate
  • Current mortgage statement if you own more than a single-family home.
  • Documentation of any Alimony, Child Support, Rental, and Assistance from others. 

If you qualify - exemption will be according to age and percentage of ownership RSA 72:41 Proration

  • 65 – 74 years of age are allowed $160,000  deducted from total assessed value
  • 75 – 79 years of age are allowed $190,000  deducted from total assessed value
  • 80 + Years of age – the exemption is equal to the FULL VALUE OF YOU HOME   

2023 Applications will be available here on our website and in our office at Town Hall the last week of December of 2022.