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Assessor outlines exemptions, veterans credit and how commercial valuations differ from residential
Summary
Town Assessor Doug Irvine presented data May 21 showing Bedford’s veterans credit remains the optional $500 (statutory baseline $50), described recent 30% increases to elderly and other exemptions tied to the 2023 revaluation, and explained why residential assessments jumped more than commercial values in 2023.
Town Assessor Doug Irvine briefed the Bedford Town Council on May 21 about property-tax exemptions, credits and commercial valuation methods and provided a multi-year data review aimed at helping the council evaluate potential changes.
Irvine said the town’s common optional veterans’ credit is $500; he noted the statutory baseline credit is $50 while the optional municipal tier can be increased up to $750. “The standard veteran credit is a $50 credit by statutory language. We are pursuing the optional at $500,” Irvine said, explaining the distinction between statutory language and the town’s adopted optional amount.
Key points and context - Veterans’ credit: Irvine reported that although the per-recipient credit amount has been stable for more than a decade, the total town cost of the program has fallen as assessed…
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