Elderly Exemption

The Town of Northwood has adopted an Elderly Exemption program. The exemption is subtracted from the property assessment. The exemption for those who qualify is:

Exemptions 

• 65-74 years of age as of April 1st = $113,620
• 75-79 years of age as of April 1st = $162,500
• 80 years of age and older as April 1st = $211,250

Deadline
Filing deadline is April 15. Applications are accepted after January 1.

Town of Northwood Elderly Exemption (RSA 72:39-a:)

Filing Procedures

1. An Income and Asset Statement, covering the full calendar year preceding April 1st, must be completed and submitted to the Assessor’s Office.
2. A permanent application for property tax credits must be completed and submitted to the Assessor’s Office.

Summary of Elderly Exemption Eligibility Requirements

• Must be 65 years of age on or before April 1.
• Must be the owner of record on or before April 1.
• Must reside in the State of New Hampshire for 3 consecutive years on or before April 1.
• Married couples must have been married for 5 consecutive years on or before April 1.
• Must occupy the property as their principal abode to qualifying for the elderly exemption.

Income Qualifications

Income qualifications include any net income (not adjusted) from all sources in the calendar year preceding April 1st.

• Single person income not to exceed $40,000
• Married persons joint income not to exceed $50,000

Asset Qualifications

Asset qualifications will include any assets on the date of application.

• Assets not to exceed $75,000 (excluding the home they reside in)
• Any other real estate owned anywhere (individually, jointly, in common, fractional) including land, mobile homes, condos, timeshares, etc.
• Checking and/or savings account balances.
• CD’s, IRA’s, mutual funds, stocks, bonds, annuities, life insurance policies, money market, etc.
• Any and all vehicles registered in your name including motor vehicles, cars, trucks, RV’s, trailers, etc.

Application and required paperwork must be submitted and completed on or before April 15^th.

If you have questions concerning what paperwork is required, please contact our office.

Forms

• You might need the free Acrobat Reader to view or print the PDF form(s).
• Download, print, fill-out/complete the form(s), sign and date the form(s).
• Submit the form with required documents listed above to the Town of Northwood
• FORMS REQUIRED:
  1.) ELDERLY TAX EXEMPTION QUALIFICATIONS / REQUALIFICATIONS WORKSHEET
  2.) PERMANENT APPLICATION FOR PROPERTY TAX CREDITS/EXEMPTIONS - PA-29 FORM
  3.) IF PROPERTY/ESTATE IS IN A TRUST - PA-33 FORM