Elderly Exemption for Town Taxes

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

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

• 65-75 years of age as of April 1st= $120,000
• 76-79 years of age as of April 1st = $145,000
• 80+ years of age as of April 1st = $170,000

Filing Procedures:

Applicant must fill out an Elderly Exemption Worksheet, covering the full calendar year preceding April 1st, along with a PA-29 “Permanent Application for Property Tax Credit/Exemptions”, sign, date and submit to the Assessor’s Office.

Listed below are the qualifications:

Elderly Exemption Eligibility Requirements

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

Income qualifications will include any income from all sources in the calendar year proceeding April 1st.

• Single person income not to exceed $30,000
• Married persons joint income not to exceed $40,000

Asset qualifications will include any assets on the date of application

Assets not to exceed $150,000 (excluding the home in which they reside)

• All other real estate owned
• Checking and/or savings account balances
• CD’s, IRA’s, mutual funds, stocks, bonds
• Automobile(s)

The following documents will be required to verify eligibility: (Please bring documentation with you when applying.)

• Federal income tax forms
• State interest and dividends tax forms
• Statements for checking and/or savings accounts
• Statements for CD, IRA, stocks and/or bonds

All documents and copies of documents submitted with or requested to verify an application for a property tax credit, exception, or deferral are considered confidential and returned to the applicant after a decision is made on the application.