Elderly Exemption Program

The Elderly Exemption is a property tax relief program for residents over the age of 65. The exemption reduces the taxable value of the real estate of qualifying residents.

Qualifications


To qualify for the Elderly Exemption Program:
  1. You or your spouse must be 65 on or before April 1st in the year the application is made.
  2. You must be a resident of the State of New Hampshire for at least the last 3 years. Married persons must be married for the last 5 years.
  3. Your real estate must be your permanent place of residence. You may only claim one property as your permanent place of residence.
  4. Combined net income cannot exceed $36,800 for single or $50,000 for married.
  5. Excluding your home, your assets cannot exceed $100,000, married or single.
  6. You must complete and file the following:
    • An income and asset worksheet (PDF);
    • Attach a copy of your federal income tax report;
    • Attach a copy of your NH Interest and Dividends report;
    • Attach a copy of your inventory for other real estate you own;
    • And, a permanent exemption application.

Exemption Amounts


The amount of exemption varies depending on the age of the applicant.
  • Between the ages of 65 and 74, the exemption is $45,000.
  • Between the ages of 75 and 79, the exemption is $80,000.
  • Over the age of 80, the exemption is $170,000.

Reduce Your Taxes


An exemption reduces the taxable value of your real estate. For example:

Without exemption:
 Item Monetary Amount
Land Value $65,000
Building Value $130,000
Total Assessment $195,000
Tax Rate $24.19
Taxes $4,717


With exemption:
 Item Monetary Amount
Land Value $65,000
Building Value $130,000
Total Assessment $195,000
Less Exemption $45,000
Net Assessment $150,000
Tax Rate $24.19
Taxes $3,628
Savings $1,089

Qualifying taxpayers save according to their age group:
Age Group Taxes Saved
65-74 $1,089
75-79 $1,935
80+ $4,112

That example is based upon a tax rate of $24.19 per thousand dollars of valuation.