The amount of this exemption is $175. For eligibility, an elderly person 70 years old or over as of July 1st who has owned and occupied the property as his domicile for at least 10 years. A person may own this property solely, as a joint owner or as a tenant in common. The holder of a life estate satisfies the ownership requirement.
In addition, a persons whole estate, real and personal, cannot exceed $40,000, excluding the total value of the subject property. This clause prescribes no limitation on annual income for exemption eligibility. An applicant must provide to the Manchester Assessors whatever information is required to establish eligibility. This information may include, but not be limited to birth certificates, evidence of domicile and income tax returns.