Lynn council OKs tax break for veterans posts

LYNN – The City Council approved a proposed abatement Tuesday to increase local property tax relief for nonprofit veteran organizations.Pleased with the outcome, Michael F. Sweeney, director of Veterans’ Services, said Lynn is most likely the first in the state to approve the increase.The city has previously provided veteran posts with a property tax exemption. Chapter 61 determines the amount a building can be worth and still qualify for the exemption.The current maximum exemption of $700,000 has not kept pace with the rise in real estate prices over the last several years.Chapter 61 would then increase the amount to $1.5 million.Mayor Edward J. Clancy Jr. previously said without the change, some veteran posts in the city would see their taxes increase significantly at a time when they are already financially strained.Councilor At Large Dan Cahill praised Clancy and City Council President Timothy Phelan for their quick action on the matter.”Everyone came together in a timely fashion and I’m pleased that the veterans posts will be able to remain open and service the city,” he said.In the event the council rejected the provisions, the VFW Post 507 and the Franco American Post would have seen significant tax increases, with $5,000 for the Franco and $3,000 for VFW 507.Sweeney previously said only those two posts out of roughly six in the city would have been affected by a tax increase.