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Tax exemptions for the elderly?

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In Manchester, there is a debate regarding the city's tax exemption for the elderly.

The exemption lets elderly people in three age brackets over the age of 64 to deduct up to $195,500 from the total assessed value of their home, if they meet qualifications based on annual income, value of their asserts, and how long they've lived in New Hampshire.

Manchester is one of many New Hampshire cities and towns that offer tax exemptions for the elderly.

However, some citizens have argued that the city should eliminate the tax exemption, citing fiscal concerns and arguing that the elderly should not continue to live in homes they can no longer afford.

Those in favor of keeping the exemption, however,​ ​claim that it protects the assets of lower-income elderly people and enables them to live comfortably through retirement.

Should towns and cities in NH provide tax exemptions to the elderly? Leave a comment below to join the discussion. Only comments from NH residents will be counted, so please indicate if you are from NH in your response.

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Rene

#yes

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