Hope Damon | Support HB1296

HB1296 is a modest effort to update the elderly property tax exemption. I have seen throughout Sullivan District 8, the nine communities that I represent, that many elderly homeowners are at risk of losing the simple properties they spent a lifetime working for. As property values have increased exponentially, the increases in property taxes have become truly unmanageable for many. This proposed legislation does not solve the complex problem of high property taxes in NH. It does help some elderly folks to have a small benefit which could help them age in place - as most of us desire to do. Currently, the communities that I represent have 75 households appreciating the elderly property tax exemption. The current federal poverty level for 2 people is $21,150. HB1296 raises the income eligibility for elderly tax exemption from $13400 to just $23, 300. Clearly this is an income level that sustains no person in todays economy. The small benefit of increasing eligibility for the elderly income tax credit seems very modest and appropriate to me. I urge the committee members to vote OTP. Thank you for your consideration and work.