Peterborough will hold a special Town Meeting on Wednesday, Sept. 10 at 7:00 p.m. at the Peterborough Town House to consider Article 1, which would update the town’s elderly property tax exemptions.
Approval would allow qualifying residents to receive the revised exemption beginning April 1, 2025, in time for the fall 2025 tax bills. About 30 residents qualified for the exemption in 2024 but officials say this year’s property revaluation has made current exemption levels inadequate.
Exemption levels are set by state law. In Peterborough, residents ages 65 to 74 would receive an $80,000 exemption, those 75 to 79 would receive $120,000 and residents 80 and older would receive $160,000. To qualify, single applicants must earn $34,000 or less annually, or $52,000 per married couple, including Social Security income. Assets may not exceed $100,000, excluding the primary residence up to the minimum lot size allowed by zoning.
Applicants must be 65 or older as of April 1 of the application year, and must have lived in New Hampshire for at least three years. The eldest spouse should apply in married households.
The special meeting is required because the Department of Revenue Administration mandates voters set an effective date for the exemptions to take effect under RSA 72.
For details or to apply, visit peterboroughnh.gov or contact Assessing Clerk Gretchen Rae at 603-924-8000 ext. 132 or assessing@peterboroughnh.gov.