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Exemptions and Tax Credits

Exemptions and Tax Credits

 

HAMPSTEAD EXEMPTIONS  AND TAX CREDITS

ELDERLY AND DISABLED TAX EXEMPTION APPLICANTS - PLEASE NOTE

  • All information that you are being asked to proved is for the PREVIOUS year - ending December 31, 2023
  • All income from all sources such as Social Security, Pensions, Annuities, Retirements, Wages, etc must include a form 1099 or W-2 to verify the amounts
  • All assets including Bank Accounts, CD's, IRA's, Money Markets, Annuities, etc, must include a statement that shows the amount in the account as of December 31, 2023 

 

ELDERLY EXEMPTION:

  • Must have lived in New Hampshire 3 consecutive years prior to April 1
  • Must be 65 years of age before April 1
  • Assets not in excess of $100,000 (excluding the value of the home – including checking, savings, IRA, CD, Annuity, cars, boats, 2nd home, land, RV)
  • If Single – income not in excess of $40,000 (includes Social Security, pensions, wages, interest income, etc. – excludes life insurance payout, proceeds from sale of asset, expenses/costs of a business)
  • If Married – income not in excess of $70,000 (includes Social Security, pensions, wages, interest income, etc. – excludes life insurance payout, proceeds from sale of asset, expenses/costs of a business)

EXEMPTION AMOUNTS:

  • Ages 65 to 74      $210,000 taken off assessed value
  • Ages 75 to 79      $280,000 taken off assessed value
  • Ages 80 and up   $322,000 taken off assessed value

 

REQUIRED DOCUMENTS:

 

VETERAN’S EXEMPTION:

  • Must have lived in New Hampshire 1 year prior to April 1
  • For Disabled Veteran or Surviving Spouse – must have total and permanent connected disability or double amputee or paraplegic or the surviving spouse.

VETERAN’S (or Spouse) TAX CREDIT:

Property tax bill is reduced by $750.00

DISABLED VETERAN (or Spouse) VETERAN’S TAX CREDIT:

Property tax bill is reduced by $2,000.00

Surviving Spouse needs to re-apply upon death of Veteran

REQUIRED DOCUMENTS:

  • Copy of DD-214 (original will be returned) – must show at least 90 days active service and honorable discharge – must also include letter of disability if applying for disabled or surviving spouse credit
  • Veteran’s Qualification Worksheet
  • PA-29
  • PA-33 – only required if home is in a trust

 

DISABLED EXEMPTION:

  • Must have lived in New Hampshire for at least 5 years prior
  • Must own/occupy the real estate individually or jointly, or if the real estate is owned by a spouse, they must have been married for at least five years
  • Must be eligible under Title II or Title XVI of the federal social security act for benefits to the disabled
  • Must show evidence of qualifications from the Social Security Administration
  • Assets not in excess of $100,000 (excluding the value of the home – including checking, savings, IRA, CD, Annuity, cars, boats, 2nd home, land, RV)
  • If Single – income not in excess of $40,000 (includes Social Security, pensions, wages, interest income, etc. – excludes life insurance payout, proceeds from sale of asset, expenses/costs of a business)
  • If Married – income not in excess of $70,000 (includes Social Security, pensions, wages, interest income, etc. – excludes life insurance payout, proceeds from sale of asset, expenses/costs of a business)

DISABLED EXEMPTION:

$50,000 taken off assessed value

REQUIRED DOCUMENTS:

 

BLIND EXEMPTION:

  • Must be legally blind as determined by the Blind Services Program, Bureau of Vocational Rehabilitating, Department of Education, State of NH

BLIND EXEMPTION:

$50,000 taken off assessed value

REQUIRED DOCUMENTS:

  • PA-29
  • PA-33 – only required if home is in a trust
  • Evidence from the Blind Services Program, Bureau of Vocational Rehabilitating, Department of Education, or State of NH