RSA 72:23-i Rannie Webster Foundation.

The real estate and personal property of the Rannie Webster Foundation, a nonprofit corporation which provides convalescent care and elderly housing for elderly persons through the Webster Pines Homes in Rye, New Hampshire, if none of the income or profits of the elderly housing is used for any purpose other than the purpose for which the housing is established, shall be exempt from taxation. For the purpose of this section an elderly person is one who is 62 years or more of age. The age of the head of the family determines the eligibility of the family unit in the elderly housing. On or before December 1 of each year the owner of the elderly housing shall pay to the town or city in which the property is situated, in lieu of taxes, a sum representing 10 percent of the shelter rent receive