Tax Exemptions & Credits

The Town of Hollis offers the following Exemptions and Credits. The filing deadline for all is April 15^th, prior to the notice of tax.

For all applications, you will be required to fill out Form PA-29, Permanent Application for Exemption or Credit. This form will be completed at the time you bring your documentation to the Assessing Office.

If your property is held in Trust, you will also be required to file a Form PA-33, Statement of Qualification. A copy of your Declaration of Trust must be attached. Under RSA 72:33, V, we are required to prove that you are the beneficiary of such trust before an exemption or credit will be allowed.

If you have a Life Estate on the property for which you are applying for, you will be required to file a Form-33, Statement of Qualification. A copy of the deed showing your life estate in the property must be attached, per RSA 72:33, V.

If you have any questions regarding applications, requirements or other, please contact the Assessing Office at (603) 465-9860.

Elderly Exemption & Elderly/Disabled Deferral
Veterans Credits & Exemption
Blind Exemption
Improvements to Assist Persons with Disabilities
Solar Power Energy Exemption
Wind-Powered Energy Exemption

Elderly Exemption

Benefit is:

For persons	65 - 74 years of age	$144,000 assessed valuation reduction
	75 – 79 years of age	$172,500 assessed valuation reduction
	80+ years of age	$201,500 assessed valuation reduction

Basic requirements are:

Applicant must be 65 years of age on or before April 1^st in the year they are applying for the exemption;
Applicant must have been a New Hampshire resident for at least 3 years prior to April 1^st in the year which they are applying;
Applicant must have owned the residence by April 1^st, individually or jointly; or if a spouse owns the residence, they must have been married for at least five years;
Applicant must have a gross income of less than $33,000, if single. If married, the combined gross income must be less than $44,000. (see below for types)
Applicant’s assets must not to exceed $110,000, excluding the value of the residence and up to two acres of land. (see below for types)
Initial application must be submitted on or before April 15^th of the tax year in which you would seek the exemption.
Submit a copy of your birth certificate (and spouse, if applicable)
Submit a copy of last year’s Federal Tax Return. If you are not required to file a Federal Tax Return, you may state the last year you filed on the application.

Please note the following:

If the applicant received a transfer of real estate from a person under the age of 65, related to him by blood or marriage, within the preceding 3 years, no exemption shall be allowed under RSA 72:40-a limitations.
Until the application has been received and approved, property tax bills will be mailed and the property owner should pay these bills in a timely manner. If the application is approved, the amount owed will be refunded to you. If the tax has not been paid, you are responsible for any interest that has accumulated on the tax that is past due.

Income types include, but are not limited to:

Social Security;
Pensions;
Wages;
Interest received from bank accounts;
Dividends from stocks, bonds, etc.;
Rental Income received

Non-qualifying income that is not taken into consideration, but must be reported, includes:

Proceeds from the sale of assets;
Expenses and costs incurred in the course of conducting a business enterprise;
Life insurance payments received.

Asset types include, but are not limited to:

Real Estate, other than the primary residence;
Cars, motorcycles or other types of vehicles;
Stocks, bonds, mutual funds, money market accounts, IRA’s, Certificates of Deposit, etc.;
Checking and savings accounts;
Residential land exceeding two acres.

You must submit a copy of documentation of any income or asset that is used in your application. This can include W-2’s, pension or Social Security statements, bank statements, 1099-I, etc.

Applications for this exemption are available in the Assessing Office during normal business hours.

It is highly recommended that you bring the completed application with all documentation to the Assessing Office in person, so that we may review the application and documentation with you. Missing or incomplete applications and/or documentation can result in a delay of processing your application. An appointment is not necessary, but can be made during normal business hours.

Tax Deferral for Elderly and Disabled (RSA 72:38a)

· · Must be at least 65 years old or eligible under Title II or Title XVI of the Social Security Act for benefits for the disabled.

· · Must have owned the homestead for at least 5 years.

· · Must be living in the home.

· · Must have mortgage holder's (if any) approval.

· · Must apply each year.

The total tax deferrals on a particular property shall not be more than 85 percent of its assessed value. This program does not remove or exempt the taxes; it defers them until a later date. Please contact the Assessing Office for more information regarding this program.

Veterans Credits

Benefit is: $500.00 credit towards annual tax bill.

Basic requirements:

Must have served at least, but no less than 90 days active service during one of the qualifying time periods below (reserve duty does not apply), or received an Armed Forces Expeditionary Medal or Theater of Operations Service Medal.

World War I *	4-6-1917	to	11-11-1918
World War II	12-7-1941	to	12-31-1946
Korean Conflict	6-25-1950	to	1-31-1955
Vietnam Conflict	7-1-1958	to	12-22-1961
And earned the Viet Nam Service Medal or the Armed Forces Expeditionary Medal
Vietnam Conflict	12-22-1961	to	5-7-1975
Persian Gulf War	8-2-1990	to	TBD **

* Extended to April 1, 1920 for service in Russia, provided that military or naval service on or after November 12, 1918 and before July 2, 1921, where there was prior service between April 6, 1917 and November 11, 1918

shall be considered World War I service.

** Date thereafter prescribed by Presidential proclamation or by law.

Military members who served (or are currently serving) in Afghanistan or Iraq will eventually be awarded the Global War on Terrorism Expeditionary Medal, which is on the list of qualifying awards. The list will be updated as often as necessary to keep it accurate.

The following must hold true to be considered eligible for the Veteran’s Credit.

Property must be owned by the Veteran and/or spouse, and the principal place of residence;
Applicant must be a resident of New Hampshire for at least one year as of April 1^st;
Proof of service must be provided. Acceptable forms include: DD214, WD AGO 53-55; or NAVPERS 553. While a DD214 is the preferred proof of service, any document used to establish proof of service must include entry and discharge dates from active duty, along with the type of discharge.
Discharge must be either honorable or medical.
Initial application must be submitted by April 15^th.

The surviving, unmarried spouse of a Veteran who would meet the above requirements may also apply and receive the credit.

Veteran’s Credit for Service-Connected, Total & Permanent Disability

Benefit is: $2000 credit towards annual tax bill (in addition to Veteran’s Credit listed above)

Basic requirements:

Must have a service-connected, total and permanent 100% disability, and be able to supply documentation to this effect from the Veterans Administration;

Must meet the residency requirements as stated above in Veteran’s credit;
Honorable or medical discharge.

The surviving, unmarried spouse of a Veteran who would meet the above requirements may also apply and receive the credit.

Veteran’s Exemption for Property Purchased with funds from the Veteran’s Administration

Benefit is total exemption from Property Taxes

Basic requirements:

Must have been discharged under conditions other than dishonorable;
Must be totally and permanently disabled by a service-connected injury. Must be a double amputee of the lower or upper extremities, or combination thereof; a paraplegic; or blind in both eyes with 5/200 vision. Must be able to provide documentation from the Veteran’s Administration to this effect;
Own a specially adapted homestead that was purchased with the assistance of the Veteran’s Administration; or which was purchased with the proceeds from the sale of a homestead that was purchased with the assistance of the Veteran’s Administration;
Must meet the residency requirements as stated above in the Veteran’s Credit.

Blind Exemption

Benefit is $30,000 assessed valuation reduction.

Basic Requirements:

Must be an inhabitant and owner of the property as of April 1^st;
Property must be primary residence;
Must be certified legally blind by the Vocational Rehabilitation Office, and a copy of this certification must be presented to the Assessing Office with application.

Improvements to Assist Persons with Disabilities

Benefit is determined by the Assessor, but is limited to the cost to make such improvements to assist a person with disabilities to be able to propel him/herself. This would then result in a reduction of assessed valuation.

Basic Requirements:

Applicant must be the legal owner of the property as of April 1^st;
The disabled person must reside on the property, and the property must be their primary residence;
The improvements must be made in order for the disabled person to propel himself/herself.

Please contact the Assessing Office for more information regarding this exemption.

Solar Power Energy Exemption

Benefit is: Reduction in assessed valuation of up to $5000, based on cost to install system.

Basic Requirements:

For the purposes of this exemption, a “Solar Energy System” means a system which utilizes solar energy to heat or cool the interior of a building or to heat water for use in a building, and which includes one or more collectors at as a storage container. “Solar Energy System” also means a system, which provides electricity for a building by the use photovoltaic panels.

You must submit receipts for the cost to install this system with your application. Please contact the Assessing Office for more information regarding this exemption.

Wind-Powered Energy Exemption

Benefit is: Reduction in assessed valuation of up to $5000, based on cost to install system.

Basic Requirements:

For the purposes of this exemption, a “Wind-Powered Energy System” means any wind-powered devices, which supplement or replace electrical power supplied to households or businesses at the immediate site.

You must submit receipts for the cost to install this system with your application. Please contact the Assessing Office for more information regarding this exemption.

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Last revised: March 25, 2009 cmc

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