City Council Increases Income Limits for Elderly and Disabled Tax Exemptions: Deadline to File is April 15, 2025

The City Council recently voted to increase the income limits for both the elderly and disabled property tax exemptions. Income limits will increase from $54,000 to $55,534 for single taxpayers and from $70,793 to $72,804 for married couples. 

Applications for these exemptions are due to the Assessor’s Office no later than April 15, 2025, to receive the exemptions for the December 2025 tax bill. The City Assessor is holding a workshop to assist residents with the exemption rules and applications at the Portsmouth Senior Activity Center, 125 Cottage Street, on March 31, 2025, at 12 pm.

Total asset limits – beyond the primary residence – remain at $500,000 for both exemptions, whether single or married. The City exempts $375,000 from the assessed valuation of the primary home of residents ages 65 through 74, $450,000 for residents ages 75-79, and $525,000 for those 80 and older. Residents must have lived in New Hampshire for the past three years to claim this exemption.

The City also exempts $375,000 from the assessed value of the principal place of residence for any person eligible under Title II or Title XVI of the federal Social Security Act for benefits to people with disabilities. Residents must have lived in New Hampshire for the past five or more years to claim this exemption.

To apply, taxpayers will need to provide the prior year’s tax return, schedules, and any State's Interest and Dividend documentation. Specific income limitations for the exemptions are based upon earnings during the prior calendar year. Income can include wages, self-employment earnings, pensions, annuities, rentals, and Social Security benefits. Assets can include savings and checking accounts, stocks and bonds, CDs and money market accounts, vehicles, household goods, antiques, art, and jewelry.

For more information, applications, and a full list of requirements, residents should visit portsnh.co/assessors or call the City Assessor’s Office at 603-610-7249.