Article 2012-14 Modify the Elderly Exemption

Article 2012-14 Modify the Elderly Exemption

Postby Rob C - Moderator » Fri Jan 06, 2012 10:29 am

Currently not in final form

Article 2012-14 Modify the Elderly Exemption

“Shall we modify the elderly exemption from property tax in the Town of Danville, based on assessed value, for qualified taxpayers, to be the following: for a person 65 years of age up to 74 years, Sixty-five Thousand One Hundred Sixty-Five Dollars ($65,165); for a person 75 years of age up to 79 years, Ninety-Three Thousand Three Hundred Four Dollars ($93,304); for a person 80 years of age or older, One Hundred Fourteen Thousand Seven Hundred Seventy Nine ($114,779). To qualify, New Hampshire must be the primary residence for at least five consecutive years, the person may own the real estate individually or jointly, or if the real estate is owned by such person’s spouse, they must have been married for at least 5 years. In addition, the taxpayer must have a net income of not more than Thirty-Two Thousand Dollars ($32,000) or, if married, a combined net income of less than Forty Thousand Dollars ($40,000); and own net assets not in excess of Seventy Thousands Dollars ($70,000) excluding the value of the person’s residence.” This article shall take effect for the 2012 property tax year. (Majority vote required).

Recommended by the Board of Selectmen (5-0)
Recommended by the Budget Committee (8-0)
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