If an applicant qualifies the amount of the exemption is determined by age:
Ages 65 to 74 receive $120,000 deducted from the assessed value of the home.
Ages 75 to 79 receive $180,000 deducted from the assessed value of the home.
Ages 80 or older receive $245,000 deducted from the assessed value of the home.
Has lived in NH for 3 years on or before April 1st
Has an income from all sources not exceeding $41,000 if single, or $55,000 if married - money from Social Security, retirement funds, interest on IRA or CD
Total assets not exceeding $140,000 - assets include proceeds from the sale of assets, IRA certificates, CDs, savings and checking accounts, stocks and bonds, jewelry, furniture, automobiles, RVs, other real estate, and life insurance paid on the death of an insured
The property you are looking to put the exemption on must be the primary residence of the qualifying owner.
Notes on the Exemption
If the property is owned by a husband and wife, only one exemption is given.
If the property owner marries at least 5 years prior, can receive the elderly exemption.
Property cannot be transferred by a blood relative within 5 years of April 1st of tax year.