Disabled

Exemption For The Disabled (Chapter 72:37-B)

Any person who is eligible under Title 2 or Title 16 of the federal Social Security Act for benefits to the disabled shall receive a yearly exemption in the amount of $52,000. The exemption may be applied only to property that is occupied as the principal place of abode by the disabled person. The exemption may be applied to any land or buildings appurtenant to the residence or to manufactured housing if that is the principal place of abode.

Income Requirement (2022)* 

Single:    $54,360
Married: $73,240   
* Figures are based on 4 times the 2022 Federal Poverty Level (amount subject to change annually).

Income:

  • Dividend/interest income

  • Social Security

  • Rental income

  • Support from others

  • Retirement/pension payments

  • Wages


The following is not counted as income:

  • Expenses and costs incurred in the course of conducting a business enterprise

  • Life insurance paid on the death of an insured

  • Proceeds from the sale of assets

Documentation
You may be asked to provide a copy of your Federal and State income Tax returns.  
The review of bank accounts, investment funds, retirement accounts, etc. will also 
be required.

Assets
Net Assets (excluding the value of your actual residence) may not exceed $150,000. 
This includes:

  • Checking accounts

  • CDs

  • Savings accounts

  • Additional real estate

  • Stocks

  • Cars

  • Bonds

  • Expensive jewelry

  • IRAs



Land as an Asset
You can exclude the greater of up to two acres or the minimum zoning lot size for a residence in your zoning district. The remainder of the land is included in the $150,000 limit at the fair market value and not the assessed value. “Net Assets” means the value of all assets tangible and intangible, minus the value of any good faith encumbrances.

Residential Requirements
You must have resided in the state for at least 3 years and owned your home individually or jointly on April 1st in the tax year for which you are applying. If the real estate is owned by your spouse, you must have been married for at least 5 years. 

More information on credits and exemptions can be found HERE. To reach the Bedford Assessor's office, please call us during normal business hours: (603) 472-8104