New Hampshire HB1296 modifies the conditions and procedures for the elderly tax exemption.

New Hampshire HB1296 amends the conditions and procedures for the elderly tax exemption. It allows municipalities to set different exemption amounts for taxpayers aged 65-75, 75-80, and 80 and older. To qualify, individuals must have been New Hampshire residents for at least three consecutive years, own their real estate, and meet specific income and net asset thresholds. The bill also mandates annual adjustments to these thresholds based on the Consumer Price Index. The changes will take effect starting in the 2027 tax year.

New Hampshire HB1296 modifies the conditions and procedures for the elderly tax exemption.

New Hampshire HB1296 amends the conditions and procedures for the elderly tax exemption. It allows municipalities to set different exemption amounts for taxpayers aged 65-75, 75-80, and 80 and older. To qualify, individuals must have been New Hampshire residents for at least three consecutive years, own their real estate, and meet specific income and net asset thresholds. The bill also mandates annual adjustments to these thresholds based on the Consumer Price Index. The changes will take effect starting in the 2027 tax year.