Homestead Exemption Manchester (condo, credit, house)

[klaus1989]

Hi everyone,

I am moving north in about a year. I know that property tax in NH is quite high. I live in Florida and we have homestead exemption here which saves you a considerable amount annually on taxes. Does NH offer the homestead exemption?

I appreciate your help.

Thank you!

[Nonesuch]

NH has several property tax options for towns to reduce the tax burder for veterans, seniors, and the disabled.

We do have a different kind of "homestead exemption", doesn't reduce your annual property tax bill:

Homestead exemption is automatically given to you in your primary residence when you move into a home in New Hampshire. The homestead exemption safeguards part of the value of your home against creditors that file judgments or liens against you.

See NH RSA 480:1 and RSA 529:20

[City Guy997S]

Originally Posted by klaus1989

Hi everyone,

I am moving north in about a year. I know that property tax in NH is quite high. I live in Florida and we have homestead exemption here which saves you a considerable amount annually on taxes. Does NH offer the homestead exemption?

I appreciate your help.

Thank you!

It really doesn't save a considerable amount unless you live in a very inexpensive property. FL Homestead exempts $50,000 in value so sure if you live in a 100K condo then your tax bill is cut in half (probably 1000 a year instead of 2000). But if you live in a 1mm house you will save about $500 on your 20K tax bill.

The real value is in the event of a lawsuit/bankruptcy your principle residence is protected from creditors and if it is homesteaded then they can't raise your tax bill more than 3% a year.