- Your Government
- Exemptions / Credits
- Elderly Exemption
Elderly Exemption (RSA 72:39-a)
Any Concord or Penacook resident who may be eligible to receive the elderly exemption must file an Concord or Penacook Elderly Exemption Application and Permanent Application State form PA-29 (PDF) with the Assessing Department. Filing period is January - April 15th.
- The applicant must be 65 years of age on or before April 1st in the year they are applying for the exemption.
- The applicant must have been a New Hampshire resident for three consecutive years prior to April 1.
- The applicant must have owned the residence by April 1 individually or jointly, or if the residence is owned by a spouse, they must have been married for at least five years.
- If the 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 5 years, no exemption shall be allowed. RSA 72:40-a, Limitations.
- A single applicant must have a net income of less than $39,000. If married, a combined net income of less than $55,300.
- Net income is to be determined by deducting from all monies received from any source whatsoever, the amount of any of the following, or the sum thereof:
a. Life insurance paid on the death of an insured.
b. Expenses and costs incurred with conducting a
c. Proceeds from the sale of assets.
- The applicant, can not have assets in excess of $100,000, excluding the value of the dwelling. Any units of a multi-family home not occupied by the exemption recipient are considered to be an asset.
- The applicant, meeting the above statute requirements, will receive the following exemptions:
$80,000 Valuation Reduction (65-74 Years of Age)
$131,000 Valuation Reduction (75-79 Years of Age)
$223,000 Valuation Reduction (80 or More Years of Age)
- If your income or asset level changes and you no longer qualify for the exemption, you are obligated by law to advise the Assessing Department.
- If your property is held in a trust, you must supply a copy of the trust instrument and "A Statement of Qualification" (PA-33) (PDF) must be completed and submitted with documents. (All documents submitted shall be handled to protect the privacy of the applicant).
- Notify the Assessor’s Office of any change of address
Documents required for new applicants:
- SSA – 1099 Statement (Social Security Benefit Statement)
- Previous years income tax form – if not filing a federal income tax form, the following forms will be required if applicable: Form 1099 R Distribution of pensions, annuities, any W2 wage statements and 1099 interest statements.
- Bank statements and verification of assets listed