Section 12D-7.012 - Homestead Exemptions - Joint Ownership(1) No residential unit shall be entitled to more than one homestead tax exemption.(2) No family unit shall be entitled to more than one homestead tax exemption.(3) No individual shall be entitled to more than one homestead tax exemption.(4)(a) This paragraph shall apply where property is held by the entireties or jointly with a right of survivorship. 1. Provided no other co-owner resides on the property, a resident co-owner of such an estate, if otherwise qualified, may receive the entire exemption.2. Where another co-owner resides on the property, in the same residential unit, the resident co-owners of such an estate, if otherwise qualified, must share the exemption in proportion to their ownership interests.(b) Where property is held jointly as a tenancy in common, and each co-owner makes their residence in a separate family unit and residential unit on such property, each resident co-owner of such an estate, if otherwise qualified, may receive the exemption in the amount of the assessed value of his or her interest, up to $25,000. No tenant in common shall receive the homestead tax exemption in excess of the assessed valuation of the proportionate interest of the person claiming the exemption.(5) Property held jointly will support multiple claims for homestead tax exemption; however, only one exemption will be allowed each residential unit and no family unit will be entitled to more than one exemption.(6)(a) Where a parcel of real property, upon which is located a residential unit held by "A" and "B" jointly as tenants in common or joint tenants without a right of survivorship, and "A" makes his permanent home upon the said property, but "B" resides and makes his permanent home elsewhere, "A" may not claim as exempt more than his interest in the property up to a total of $25,000 of assessed valuation on which he is residing and making the same his permanent home. The remainder of the interest of "A" and the interest of "B" would be taxed, without exemption, because "B" is not residing on the property or making the same his permanent residence.(b) If that same parcel were held by "A" and "B" as joint tenants with a right of survivorship or tenants by the entirety under the circumstances described above, "A" would be eligible for the entire $25,000 exemption.(7) In the situation where two or more joint owners occupy the same residential unit, a single homestead tax exemption shall be apportioned among the owners as their respective interests may appear.Rulemaking Authority RSA 195.027(1), RSA 213.06(1) FS. Law Implemented RSA 196.001, RSA 196.031, RSA 196.041 FS.New 10-12-76, Formerly 12D-7.12, Amended 12-27-94, 12-25-96.