ORDINANCE
(2)
(3)
O-19-063
Owns net assets not in excess of $150,000, excluding the value of the
person’s actual residence and the land upon which it is located up to ?
acres. “Net assets” means the value of all assets, tangible and intangible,
minus the value of any good faith encumbrances. “Residence” means the
housing unit. and related structures such as an unattached garage or
woodshed, which is the person’s principal home, and which the person in
good faith regards as home to the exclusion of any other places where the
person may temporarily live. “Residence” shall exclude attached dwelling
units and unattached structures used or intended for commercial or other
nonresidential purposes.
Has been a New Hampshire resident for at least 5 years.
B. Additional requirements for an exemption under §295-8 shall be that the property
iS:
(1)
(2)
(3)
(4)
Owned by the resident:
Owned by a resident jointly or in common with the resident's spouse,
either of whom meets the requirements for the exemption claimed:
Owned by a resident jointly or in common with a person not the resident’s
spouse, if the resident meets the applicable requirements for the exemption
claimed: or
Owned by a resident, or the resident’s spouse, either of whom meets the
requirements for the exemption claimed, and when they have been married
to each other for at least 5 consecutive years.”
