LEGISLATIVE YEAR 2019
ORDINANCE: 0-19-063
PURPOSE: Amending the elderly and disabled tax exemptions
SPONSOR(S): Alderman Ernest Jette
COMMITTEE
ASSIGNMENT:
FISCAL NOTE: The first tier of the elderly exemption for the age group 65-74
currently consists of 248 properties. The additional $2,000 increase in this exemptions will
reflect a loss of tax revenue of no more than $10,822.72 at the current tax rate. The increase of
$25,000 in allowable assets for the disabled exemptions will reflect no additional loss of tax
revenue at this time since no former applicant was denied due to having assets at or below the
$150,000 limit. ,
ANALYSIS
This legislation increases the amount of the elderly exemption for persons between the ages of
65 and 74 from $192,000 to $194,000 starting in the tax year beginning April 1, 2020. The
amount of net assets allowed for the exemption for the disabled increases from $125,000 to
$150,000. The intent of these two changes is to make the elderly exemption and the exemption
for the disabled more uniform. The legislation also updates the language for the elderly tax
exemption qualifications and the disabled tax exemption and qualifications to match the
language found in New Hampshire RSA Chapter 72 (“Persons and Property Liable to
Taxation”).
Approved as to form: Office of Corporation Counsel
By: \YtmwGn Gin
Date: (Ge O (rAstze, AX
