Elderly Tax Exemption

If you are at least 65 years old prior to April 1st 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 $25,000 of assessed value
Age 75-79 $35,000 of assessed value
Age 80< $40,000 of assessed value

Your annual income must not exceed $24,000 if single, and $32,000 if married.

Income includes Social Security, pensions, annuities, interest, dividends, wages, and other miscellaneous income. Excluded are life insurance paid on the death of an insured, proceeds from the sale of an asset, and expenses incurred in the course of conducting a business.

Your assets must be less than $50,000.

Assets include real and personal property, cash, certificates of deposit, IRAs, stocks, bonds and other assets. Excluded is 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 this application.

You must have resided at the property as of April 1st.

To be considered for an elderly exemption, you must file an application by April 15th. 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 at Town Hall or on this page in the attached document below. Questions, please contact the Town's Assessing Coordinator at 352-7411 ext.114.

Elderly_Exemption.pdf
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