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SB231: relative to the residency requirement to qualify for the elderly property tax exemption.
Bill details
Version history, amendments, and roll-call votes were not present in the imported local bill data.
Sponsors
- John Barnes Jr. Senate · Dist 17
- Gene Charron House · Rock 7
Topics
Local government Housing and property Taxation
Official links
CHAPTER 212
SB 231 – FINAL VERSION
19Apr2006… 1586h
2006 SESSION
06-2020
10/09
SENATE BILL 231
AN ACT relative to the residency requirement to qualify for the elderly property tax exemption.
AMENDED ANALYSIS
This bill changes the 5-year residency requirement of applicants for the elderly property tax exemption to a 3-year requirement.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19Apr2006… 1586h
06-2020
10/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Six
AN ACT relative to the residency requirement to qualify for the elderly property tax exemption.
Be it Enacted by the Senate and House of Representatives in General Court convened:
212:1 Conditions for the Elderly Exemption. Amend RSA 72:39-a, I(a) to read as follows:
(a) Has resided in this state for at least [5] 3 consecutive years preceding April 1 in the year in which the exemption is claimed.
212:2 Elderly Exemption; Procedures. Amend RSA 72:39-b, II to read as follows:
II. An elderly exemption, based on assessed value for qualified taxpayers, may be granted for a different dollar amount determined by the town or city, to a person 65 years of age up to 75 years, to a person 75 years of age up to 80 years, and to a person 80 years of age or older. To qualify, the person must have been a New Hampshire resident for at least [5] 3 consecutive years, own the real estate individually or jointly, or if the real estate is owned by such person’s spouse, they must have been married to each other for at least 5 consecutive years. In addition, the taxpayer must have a net income in each applicable age group of not more than a dollar amount determined by the town or city of not less than $13,400 or, if married, a combined net income of not more than a dollar amount determined by the town or city of not less than $20,400; and own net assets not in excess of a dollar amount determined by the town or city of not less than $35,000 excluding the value of the person’s residence or, if married, combined net assets not in excess of a dollar amount determined by the town or city of not less than $35,000 excluding the value of the residence. Under no circumstances shall the amounts of the exemption for any age category be less than $5,000. The combined net asset amount for married persons shall apply to a surviving spouse until the sale or transfer of the property by the surviving spouse or until the remarriage of the surviving spouse.
212:3 Effective Date. This act shall take effect upon its passage.
Approved: June 1, 2006
Effective: June 1, 2006