The Derry Town Council has approved its annual increment to the Veterans Tax Credit, while planning a subcommittee to look at the pros and cons of extending the credit to everyone who served.
The Council discussed the credit, currently given to those who served in combat, at its July 19 meeting. They voted unanimously to increase the current tax credit to $450.
Acting Town Administrator Steve Daly spoke to the issue, stating that in the original budget planning, the effect of the tax credit was miscalculated and represented as an impact of 1 cent. The actual impact of raising the credit another $50 is 2 cents on the tax rate, he said. Continue reading