This bill establishes a tax exemption for certain elderly homeowners, allowing them to receive property tax relief on their primary residence. It introduces new sections to RSA 72, specifically sections 72:39-c and 72:39-d, which outline the conditions and procedures for the elderly homeowner exemption. To qualify, applicants must have resided in New Hampshire for at least 10 consecutive years and must own their residence, which is defined as the principal home and related structures. The exemption is available to individuals aged 72 and older, with a maximum exemption value of $530,000 and a minimum of $5,000.

Additionally, the bill amends existing laws to incorporate the new sections, allowing towns and cities to adopt the elderly homeowner tax exemption and clarifying the definitions of ownership for property tax purposes. It also specifies that applicants must file a permanent application by April 15 preceding the tax rate setting to be eligible for the exemption. The act is set to take effect on April 1, 2026.

Statutes affected:
Introduced: 72:27-a, 72:29, 72:34-a