Elderly Exemption Information

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A person 65 years or older on April 1st of tax year they are applying for and meets the requirements can apply for the elderly exemption.

Requirements:

  1. Has lived in the state of New Hampshire for 3 years on April 1st of the year applying for the exemption.
  2. Has income from all sources of $34,100. single/ $45,500. married.
    Money from Social Security, retirement fund, interest on IRA certificate, CD certificate, etc.
  3. Total assets not to exceed over $68,300.

Proceeds from the sale of assets, IRA certificates, CD certificates, savings, stock, bonds, jewelry, furniture, automobiles, and other real estate, etc.

Assets include Life insurance paid on death of an insured;

Exemption amount is age:
65 to 74, $68,300
75 to 79, $102,400
80 yrs or older, $136,500

If property is owned by husband and wife, only one elderly exemption is given. If property owner marries at least 5 years prior, can receive elderly exemption. Property can not be transferred by a blood relative within 5 years of April 15th of tax year. To apply call the Salem Assessor’s office at 890-2115 to arrange an appointment.


DEADLINE TO FILE FOR ANY CREDIT OR EXEMPTION IS APRIL 15TH OF THE YEAR OF THE TAX