The board members explored the possibility of increasing the annual exemption amount for veterans with disabilities, following new legislation introduced in August. The proposed local option, known as 22J, would allow for up to a 100% increase in the exemption amount. For example, veterans currently receiving $400 could see their exemption doubled to $800 if the board opts for the maximum increase. This adjustment would also affect other categories, such as veterans with 100% disability, who presently receive an $11,000 exemption. The board acknowledged the need to balance this potential change with the town’s fiscal planning for the upcoming budget cycle. A decision on the matter is anticipated soon, requiring approval from the town council as the legislative body.

In addition to the exemptions discussion, the board reviewed several reports and updates. The motor vehicle excise tax bills for 2025 were confirmed, with anticipated mailing in February and a March due date. The board also addressed the real estate exemptions and abatements for December, focusing on categories such as elder, blind, and veteran exemptions. The meeting included an overview of the December LA-3 sales report, noting a concern over a potentially non-arms-length transaction identified by the board. This sale, which involved a property already undergoing rehabilitation, sparked a conversation about the classification and future valuation of such properties.

The board’s review of the building permit report highlighted that three new homes received permits in December, bringing the total for the year to 28. This number is expected to increase as more permits are processed in the upcoming months.

Lastly, the director’s update covered the timely issuance of third-quarter tax bills, which included the newly approved fiscal year 2025 assessments and tax rates. The board was informed of the finalized equalized valuations from the state, crucial for calculating various municipal financial aids, including funding for the new high school construction project.