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
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
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.