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Elderly Exemption

Elderly Exemption (RSA 72:39-a)

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

  • 65-74 years of age as of April 1st = $120,000
  • 75-79 years of age as of April 1st = $145,000
  • 80+ years of age as of April 1st = $170,000
 

Filing Procedure

Applicant must fill out an Elderly Exemption Worksheet, covering the full calendar year preceding April 1st, and the PA-29 (the Permanent Application for Property Tax Credit/Exemptions).  Supporting documentation must also be provided (please see list below); supporting documents will be returned to applicant (or shredded, if the applicant notes this preference).  Application materials may be delivered to Town Hall in person, mailed to the Town Hall address, or placed in the 24-hour, locked drop box in front of Town Hall. 

 Elderly Exemption Eligibility Requirements

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

  • Single person income not to exceed $50,000
  • Married persons joint income not to exceed $60,000
  • 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 have resided 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

Asset qualifications will include any assets on the date of application and must not exceed $150,000 (excluding the home in which applicant resides):

  • All other real estate owned
  • Checking and/or savings account balances
  • CDs, IRAs, mutual funds, annuities, stocks, bonds, etc.
  • Automobile(s)

The following documents will be required to verify eligibility:

  • Driver's license, non-driver ID, or passport
  • 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