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Council reviews veterans credit and elderly exemptions, asks staff for fiscal models
Summary
Councilor Besske presented participation and cost data for the veterans $500 credit (780 participants, down from 859 in 2020) and asked staff to model impacts of raising the veterans credit toward the state maximum and increasing the elderly exemption asset threshold from $150,000.
At a Sept. 10 retreat, Bedford councilors discussed potential adjustments to the town’s tax credits and elderly exemptions after staff presented participation trends and possible fiscal impacts.
Councilor Besske said 780 veterans currently claim the town’s $500 veterans credit, down from 859 in 2020, and that the lower participation has reduced town expense by roughly $109,000 relative to 2020. She noted the state allows a veterans credit of up to $750 and asked the council to…
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