QUALIFICATIONS FOR THE ELDERLY EXEMPTIONS (RSA 72:39-a +72:39b)
Filing Deadline April 15, 2014. Applications accepted between January 1, 2014- April 15,2014.
Applicants must re-qualify YEARLY for the Elderly Exemption
- Has resided in this state for at least 3 consecutive years proceeding April 1 in the year in which the exemption is claimed.
- Must be 65 on or before April 1 of year of application.
- Property for which exemption is applied must meet the definition of residence per RSA 72:39a(c).
- If the residence is owned by such person’s spouse, they must have been married to each other for at least 5 consecutive years.
- If 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 five (5) years no exemption will be allowed- RSA 72:40a, limitations.
- Yearly Net Income:
- Single $38,600, Married $46,000 (excluding business expenses and costs, life insurance proceeds on the death of an insured, or proceeds from the sale of assets). ***Approved per warrant article vote(petition) March 13, 2012.
- Asset Limitation: $85,000 excluding residence and the value of a minimum residential lot up to 2 acres of land.
- Must reside at the property for which exemption is applied.