The bill amends Section 44-3-4 of the General Laws to update the property tax exemptions for veterans, including those who served during the Cold War, and their unmarried widows or widowers. The standard exemption is set at one thousand dollars ($1,000), but the bill includes insertions that allow for different exemption amounts in various municipalities, with some areas offering exemptions greater than the standard amount. The bill also includes deletions and insertions that adjust the exemption amounts for certain towns and cities, and in some cases, allows the town council to provide additional exemptions or tax credits to veterans. Conditions for claiming the exemption are specified, including residency requirements and the presentation of evidence of entitlement to the assessors.

Additionally, the bill outlines specific exemption amounts for different municipalities, such as Burrillville's four thousand dollars ($4,000) and Cumberland's potential twenty-three thousand seven hundred seventy-two dollars ($23,772). It also includes provisions for exemptions for totally disabled veterans and those who have received assistance in acquiring specially adapted housing, with exemption amounts varying by town. A new insertion expands the exemptions to include any life estate held by a qualified veteran. The bill is intended to take effect on December 31, 2024, and aims to include life estate interests as property subject to veterans' exemptions from taxation.

Statutes affected:
8076: 44-3-4