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Londonderry council OK's updated tax exemption policies
No one from the public offered comment on the matter at this week's Town Council meeting.
The town has offered tax exemptions for qualified residents since February 1997. Under the updated exemption, residents eligible for any of the included exemptions must have resided in New Hampshire for at least three years, own the real estate individually or jointly, or if the person's spouse owns the real estate, the couple must have been married at least five years.
While elderly and disabled resident taxpayers' net income limit for such benefits used to be $37,700 for an individual or $46,600 for a couple, those income limits have been raised to $39,600 and $48,800, respectively, in response to the current economy.
Blind residents will now be eligible for up to $50,000 in property tax exemptions - an increase from the previous $32,100.
In addition, exemptions from property taxes will now be reviewed on an annual basis, town officials said.
aguilmet@newstote.com
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