User41218_1_t William Moore
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I have posted a few times recently regarding the Elderly Tax exemption laws in NH.  The rules are determined on a town by town basis though they all follow similar guidelines and can change from time to time.  As the state of NH has no income or sales tax the state, county and town budgets must be supported by property taxes.  In order to relieve the tax burden on the elderly, towns will put exemptions in place.

The most common similarities seem to be that the benefits start at age 65 and to be eligible the homeowner must have been a resident for at least 3 years.  Once an eligible homeowner reaches 65 they can apply for the exemption.  Usuallly their application must be submitted to the town before April 1st.

The age range for benefits has three tiers.  The first is 65-74, then 75-79 and finally 80+.  The towns of Windham and Pelham offer full tax exemption for those over 80 years of age.

There are also income limitations as well as asset limitations.  These too vary on a town by town basis.  The highest income limits as well as asset limits are in Litchfield.  I have assembled some of the more relevant information below.  This information is accurate to the best of my knowledge but before making a final decision on what benefit works for you please follow up with the town or visit their website.

TownLondonderryManchesterSalemWindhamLitchfieldDerryHudsonBedfordHooksettPelham
Valuation Reduction age 65-7498900133700600001600005000082300105000763506880025000
Valuation Reduction age 75-7912360018145095000190000800001222001250008135096300Full Exemption
Valuation Reduction age 80+164800238750120000Full Exemption125000163300150000120000123800Full Exemption
Minimum Years NH Resident3333333333
Assets Not to exceed  if individual121500750006000015000030000010000015000015000035000060000
Assets Not To exceed if married1215001000006000015000030000010000015000015000035000060000
Annual Gross income if individual34300320003000040000450002800035000350003500019000
Annual Gross Income if married42300450004000050000550003500045000550005000028100

 
This post has been included in New Hampshire Information

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Real Estate Agent: William Moore (Innovative Realty)
William Moore
Londonderry, NH
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Innovative Realty

Office Phone: (603) 434-4101 Ext.: 300
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Discussion on topics related to Londonderry and Litchfield NH Real Estate and living as well as Southern NH and occasionally "the world as I see it"


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