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Town assessor outlines exemption history, veteran/senior credit options and why commercial values differed from residential in 2023 revaluation
Summary
Bedford's town assessor, Doug Irvine, presented data showing how static exemption amounts, demographic shifts among veterans, and divergent market behavior of residential and commercial properties produced differing tax effects in the 2023 revaluation; the council discussed potential policy options and data tools to guide future decisions.
Doug Irvine, the town assessor, presented a data-focused review to the Bedford Town Council on May 21 of property tax exemptions and credits (veteran, elderly, blind/deaf/disabled) and of commercial-property valuation methods used in revaluations.
Irvine told the council that Bedford currently uses an optional $500 veteran credit (statutorily the baseline optional credit exists at lower and higher levels) and noted that the overall cost of that credit has declined over the past decade as assessed values rose and as the number of claimants fell. He said the town has not raised the optional $500 veterans’ credit in many years and laid out scenarios up to the statutory maximum of $750. He said demographic changes — particularly an aging…
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