Town of Bedford, NH Article IV Elderly Exemption

[Adopted 3-9-1982 by Art. 2]

§ 251-4 Exemption granted. [1]

[Amended 12-5-2001]

The provisions of RSA 72:39-a for the adjusted elderly exemptions from property tax are hereby adopted. These statutes provide for the following exemptions, based on assessed value for qualified taxpayers:

A. For a person 65 years of age up to 74 years of age: $76,350.

[Amended 8-15-2007]

B. For a person 75 years of age up to 79 years of age: $81,350.

[Amended 8-15-2007]

C. For a person 80+ years of age 120,000.

[Amended 9-13-2006]

[1] Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I).

§ 251-5 Requirements for qualification. [1]

A. The person must have been a New Hampshire resident for at least three years, own the real estate individually or jointly, or if the real estate is owned by his spouse, they must have been married for at least five years.

B. Income levels will be tied to the Federal Poverty Level (FPL) and are established at four times the FPL. Additionally, the taxpayer must own assets of $150,000 or less, excluding the value of the person's residence. The income levels as established by four times the FPL will be reviewed annually by the Town Council.

[Amended 9-10-2014]

[1] Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I).