To see if the town will vote to increase the optional tax credit for a Service-Connected Total Disability currently at $4,000 to $4,750 on residential property per the provisions of RSA 72:35.
What it means: Previously, Veterans with a Service-Related Permanent Disability or surviving spouses could qualify for both a standard tax credit and an optional tax credit. Recent changes in state law dictate that only one can be claimed, not both. To keep Veterans from losing part of their previous property tax credits, towns including Hampton are proposing to increase the optional credit from $4,000 to $4,750. There is no significant tax impact because one type of cost easement is being substituted for another.
No one spoke for or against this Article at Deliberative Session, other than to explain it.
Fiscal impact: There is no direct tax impact because theoretically, one type of cost easement is being substituted for another.
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