NH HB1296

Increases the minimum income threshold for the elderly property tax exemption from $13,400 to $23,300 for single persons and from $20,400 to $35,500 for married persons

Raises the minimum net asset threshold from $35,000 to $60,900, excluding the value of the person's residence and up to 2 acres of land

Increases the minimum exemption amount for any age category from $5,000 to $8,600

Requires the commissioner to annually adjust income and asset thresholds based on the Consumer Price Index for All Urban Consumers, Northeast Region, with updates published by March 15 each year

Allows municipalities that have already adopted the elderly exemption to automatically apply updated threshold amounts without requiring re-adoption, effective for the 2027 tax year