Tax Credits and Exemptions
Tax Credits available for New Hampton property owners:
Veteran’s standard tax credit ($500)
Service Connected Total Disability credit ($2,000)
Tax Credits are deducted from the taxes due.
Exemptions available for New Hampton property owners:
Elderly – as follows:
|
Income and Asset Limitations
|
||
|---|---|---|
|
Income - Single |
Income - Married |
Asset Limit - Single / Married |
|
$30,000 |
$40,000 |
$75,000 |
|
Amount of Exemption
|
||
|---|---|---|
|
65 – 74 years of age |
75 – 79 years of age |
80+ years of age |
|
$35,000 |
$45,000 |
$125,000 |
Disabled (based on qualifying improvements to property)
Blind ($15,000)
Exemptions are deducted from the assessed value of the property prior to applying the tax rate.
All credits and exemptions require submission of a completed Form PA-29, Permanent Application For Property Tax Credit/Exemptions, which may be obtained at the Selectmen’s Office or mailed by request. Additional documentation is required with submission of the application. Please contact the Selectmen’s Office for list of required documentation and qualification guidelines.