Elderly & Disabled Tax Deferral Application

Elderly & Disabled Tax Deferral

RSA 72:38-a

Deferrals are a postponement of payment of taxes which accrue interest at a rate of 5% (vs. the standard 18%) until the taxes are paid in full or you exhaust the equity in your home. This program must be applied for annually by March 1st. Deferrals are not the same as the Elderly Exemption. Exemptions are a reduction in your assessment and remain on the property as long as you continue to qualify (a review occurs every five years). Please see our Exemption and Credits page for qualifications for applying for the Elderly Exemption.

If a resident is over 65 years of age and has owned the property for five years or more:

• Or If the resident is disabled under Sections II or Section XVI of the Social Securities Act and has owned the property for one year or more,
• And is currently living on the property,
• And paying the property taxes would cause an undue hardship or possible loss of the property.

The resident may file Form PA-30 - Elderly and Disabled Tax Deferral Application by March 1 following the tax notice to the Assessor’s Office. If the property currently has a mortgage, the property owner must obtain written permission from the mortgage holder to defer the taxes. The Town may elect to defer all or part of the taxes owed at a rate of 5% interest. The total deferred amount may not exceed 85% of the equity value of the home.

• Resident must file the PA-30 form after second tax bill but by March 1.
• The PA-30 application must be fully completed in black ink only and must be legible and clear.
  • Names [in box Step 1] must be written out exactly as they appear on the property deed.
  • Amount of requested tax deferral [in box Step 3 (b) ] must reflect an amount equal to or less than the amount of the tax owed, excluding interest.
  • Amount of tax bill [in box Step 3 (c) ] must reflect the amount of tax owed, excluding interest on the final bill.
  • If there is a mortgage, then the mortgage holder must sign the form.

To determine that the resident faces undue hardship or possible loss of the property, the applicant may also be asked to submit the Tax Deferral for Elderly and Disabled Qualifications Worksheet, including asset and income information as follows:

• Tax Deferral for Elderly and Disabled Qualifications Worksheet
• Birth certificate (if elderly)
• Copy of final (December) real estate tax bill
• Copy of deeds for all property owned
• Social Security statement
• Statement of the number of adults residing on the property
• Proof of other household income
• Recent mortgage statement
• Most recent federal tax return & W2s, 1040s, etc.
• 3 months of most recent bank statements
• Income from any other sources
• If the applicant is married, income from a spouse is taken into consideration
• If there are other adults residing in the home, their income may be taken into consideration