Property Tax Credits & Exemptions

Hancock Property Tax Exemptions & Credits

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Under the State of New Hampshire RSA 72:6, all real estate, whether improved or unimproved, shall be taxed except otherwise provided.   RSA 72:29, III defines an exemption as, the amount of money to be deducted from the assessed valuation, for property tax purposes, of real property.   The term “tax credit'' as defined in RSA 72 IV, means the amount of money to be deducted from the person's tax bill.

Pursuant to the State Statutes, as amended, the Town of Hancock has adopted the following Property Tax Exemptions and/or Credits which are available to those residents who qualify.

For more complete information, please call the Town Administrative Office at 603-525-4441.

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A PA-29 application form for Exemptions and Tax Credits must be completed and submitted to the Town Administrative Office by April 15th to receive the exemption on the next tax bill issued, per RSA 72:33. 

The Town of Hancock requires that an Elderly Exemption application worksheet be completed annually, and sumitted to the Town Adminstrative Office by April 15h the receive the exemption on the next tax bill, per RSA 72:33.  This form must be completely annually to re-qualify for the exemption.

Both forms are available in the Town Administrative Office, or can be printed from the links below.

PA-29 Form

Elderly Exemption Application Worksheet

 

Blind Exemption, RSA 72:37 - Adopted – March, 1994         

Exemption Amount - if eligible

$15,000.00 off  the assessed value of property.

To qualify, the person must be determined to be legally blind by the State of NH Department of Education Office, Services for the Blind & Visually Impaired. 

 

Deferral for the Elderly and Disabled - if eligible, RSA 72:38-A

This is a tax credit that provides relief to elderly or disabled taxpayers, allowing them to defer property taxes as long as they remain in the home.  The total tax tax deferral cannot be more than 85% of the equity value of the property. 

Please call the Town Administrative Office at 603-525-4441 for more information.

 

Elderly Exemption – RSA, 72:39A, Modified, March, 2016     

Income Limit(s): Single - $22,500.00/year, Married - $31,000.00/year

Asset Limit - $53,000.00 - excluding the value of the actual residence and real estate not in excess of 4 acres*

Exemption Amounts - if eligible

65 - 74 years of age - $35,000.00

75 - 79 years of age - $47,500.00

80 years of age and older - $75,000.00

*Land value over 4 acres is considered an asset.

To qualify, the person must have been a New Hampshire resident for a least 3 consecutive years, own the real estate individually or jointly, or if the real estate is owned by such person’s spouse, they must have been married to each other for at least 5 consecutive years

 

Veterans or Veteran’s Widown Tax Credit – RSA, 72:28 Revised – March, 2005

Exemption Amounts - if eligible

War Service - $300.00 annual Tax Credit

Service Connected Total and Permanent Disability - $700.00*

Surviving Spouse of Veteran Who Died on Active Duty - $xxx

*To qualify, certification from the US Department of Veteran’s Affairs, that applicant is rated totally and permanently disable from service connection, RSA 72:35

 To be eligible, you must:

◇ Reside in and own your property as of April 1 of the tax year applied for;

◇ Have been a NH Resident for at least one year prior to the April 1 of the tax year applied for;

◇ Meet all criteria as outlined in the statute and have proof of your active military service;

◇ Submit the Application for Property Tax Credit (PA 29) and a copy of your DD 214 (or other service record) to the Town Administrative Office no later than April 15th of the tax year.