The bill proposes amendments to Section 44-3-13 of the General Laws, specifically targeting property tax exemptions for residents over the age of 65 in various towns and cities within the state. The new legal language inserted into the law outlines the conditions for these exemptions, detailing the exemption amounts for different age groups and residency requirements, and ensuring uniform application without regard to the ability to pay. The exemptions are designed to be in addition to any other tax exemptions or credits available to the residents. The bill specifies that only one exemption per household is allowed in cases of co-tenancy, joint tenancy, or tenancy by the entirety, and it also includes life tenants who are responsible for paying property tax. There are no deletions from the current law mentioned in the bill.

Additionally, the bill grants the town of Johnston the authority to provide a real property tax credit to individuals 65 years or older who own and occupy real property within the town. The tax credit amounts are set at $800 for fiscal year 2025, $900 for fiscal year 2026, and $1,000 for fiscal year 2027 and subsequent years. The legislation stipulates that only one credit is granted per household, regardless of the number of eligible individuals, and the total of all credits and exemptions cannot exceed the resident owner's total residential property tax bill for the fiscal year. The bill is set to take effect upon passage.

Statutes affected:
2319: 44-3-13