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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.
To qualify for the Elderly Exemption Program:
The amount of exemption varies depending on the age of the applicant.
An exemption reduces the taxable value of your real estate. For example:
Without exemption:
With exemption:
Qualifying taxpayers save according to their age group:
That example is based upon a tax rate of $24.19 per thousand dollars of valuation.
Qualifications
To qualify for the Elderly Exemption Program:
- You or your spouse must be 65 on or before April 1st in the year the application is made.
- 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.
- Your real estate must be your permanent place of residence. You may only claim one property as your permanent place of residence.
- Combined income cannot exceed $36,800, married or single.
- Excluding your home, your assets cannot exceed $100,000, married or single.
- 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.
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Rick Vincent
Chief AssessorPhone: 603-448-1499
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Assessing Department
Physical Address
City Hall
51 N Park Street
Lebanon, NH 03766
Phone: 603-448-1499Fax: 603-448-4891
Hours:
Monday - Friday
8:00 a.m. - 4:30 p.m.
Physical Address:
City Hall
51 N Park Street
Lebanon, NH 03766
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