Local Option Deferral for Elderly and Disabled Persons

State

New Hampshire

Year

2015

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Deferral

Benefit

The benefit is a local option deferral of all or part of taxes due in cases where assessing officials believe the tax burden imposes undue hardship or a possible loss of property. The interest rate on deferred taxes is 5%.

How is Benefit Disbursed

Other

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Disability

Homeowner

Principal Residence

Other Criteria

Description of Eligibility Criteria

Individuals who are either over 65 or eligible for disability benefits under Title II or Title XVI of the Federal Social Security Act are eligible if they have owned the homestead they live in for at least 5 years in the case of an elderly applicant, or at least 1 year for a disabled applicant. The total of tax deferral on a particular property cannot exceed 85% of the equity value and if the property is subject to a mortgage, the owner must have the mortgage owner’s approval prior to securing a deferral.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

Local government covers all of its tax loss

Description of State Funding for Tax Loss

State statutes do not provide for state funding for local tax loss.

Record ID

NH108_RR15

Footnotes

Sources

N.H. Rev. Stat. § 72:33; N.H. Rev. Stat. § 72:38-a (in effect for 2015)

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