Assessing Department’s Monthly Monitor

The big news is:

 Amending the Elderly and Disabled Tax Exemptions 

On November 12, 2019, the Board of Aldermen approved O-19-063, amending the elderly and disabled tax exemptions. 

This legislation increased the amount of the elderly exemption for persons between the ages of 65 and 74 from $192,000 to $194,000. The amount of net assets allowed for the exemption for the disabled also increased from $125,000 to $150,000. 

The intent of these two changes was to make the elderly exemption and the exemption for the disabled more uniform. Changes take effect starting in the tax year beginning April 1, 2020. The legislation also updates the language for the elderly and the disabled tax exemption and qualifications to match the language found in New Hampshire RSA Chapter 72 (“Persons and Property Liable to Taxation”). 

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