Elderly Exemption

Applications must be submitted by April 15th.

Requirements/Qualifications:

• The applicant must be 65 years of age on or before April 1st in the year they are applying for the exemption.
• The applicant must have been a New Hampshire resident for three years prior to April 1 and the property must be your primary residence.
• The applicant must have owned the residence by April 1 individually or jointly, or if the residence is owned by a spouse, they must have been married for at least five years.
• If the 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 72:40-a, Limitations.
• The applicant must have a total income of less than $35,800. If married, a combined total income of less than $44,700.
  • Total income is to be determined by deducting from all monies received from any source whatsoever, the amount of any of the following, or the sum thereof:
    • Life insurance paid on the death of an insured.
    • Expenses and costs incurred with conducting a business enterprise.
    • Proceeds from the sale of assets.
• The applicant can not have assets in excess of $74,300, excluding the value of the dwelling for which they are applying for the exemption on. Any units of a multi-family home not occupied by the exemption recipient are considered to be an asset.

Exemptions:

The applicant, meeting the above statute requirements, will receive the following exemptions:

• $76,600 Valuation Reduction (65-74 Years of Age)
• $116,100 Valuation Reduction (75-79 Years of Age)
• $267,000 Valuation Reduction (80 or More Years of Age)

To apply, complete the Elderly Exemption Qualification Worksheet AND the Permanent Application For Property Tax Credits/Exemption (PA-29).

If your property is held in a trust, you must also complete the Statement of Qualification (PA-33) form and you must supply a copy of the trust instrument.