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Veterans tax credit enrollment runs through April 15
City says 53 people have signed up so far
Portsmouth Herald - 3/13/2018
PORTSMOUTH - Veterans who haven't done so yet have until April 15 to sign up for the city's $500 all-veterans tax credit for the upcoming tax year.
The City Council in January 2017 voted to expand the city's $500 tax credit to all honorably discharged veterans, not just those who served in an armed conflict.
City Assessor Rosann Maurice Lentz stated in a memo to City Manager John Bohenko that 53 people have been approved for the $500 all-veterans tax credit.
The cost of providing that new tax credit comes to $26,500 for the people who have signed up so far.
City Councilor Josh Denton, a U.S. Army veteran, called for the City Council to approve the new tax credit in 2017, which they did.
"If you sign up to serve you should get the same amount (of the tax credit) as other people who signed up and were deployed in an armed conflict," Denton said Monday.
Denton is pleased that the City Council passed the tax credit and hopes veterans who are eligible continue to sign up for it.
"It's the thing I'm proudest of having accomplished since I've been on the council," Denton said.
Maurice-Lentz estimated in 2017 that the expansion of the tax credit could cost as much as $450,000, while Denton said at the time the number was likely closer to $235,000.
Denton said both he and the assessor were estimating the cost of the tax credit and added there is no formal list of how many veterans live in Portsmouth.
"It will take several years for us to find out about this through enrollment," Denton said.