The bill amends Section 44-3-4 of the General Laws in Chapter 44-3, "Property Subject to Taxation," to increase the minimum veterans exemption from one thousand dollars ($1,000) to six thousand dollars ($6,000). This exemption applies to veterans who served in various military conflicts and their unmarried widows or widowers. The bill allows municipalities to establish their own exemption amounts, which may exceed the standard exemption, providing tailored financial relief.

Additionally, the bill includes provisions for local taxation exemptions based on the veteran's disability status, with specific amounts varying by town, ensuring that totally disabled veterans receive further financial support. The bill also deletes a previous provision that permitted the town of Coventry to offer a one-thousand-dollar ($1,000) exemption for active members of the armed forces.

The act is set to take effect on January 1, 2026, allowing municipalities time to adjust their ordinances to comply with the new regulations. Overall, the amendments aim to enhance financial benefits for veterans and their families through increased property tax exemptions and tailored local provisions.

Statutes affected:
5309: 44-3-4
5309  SUB A: 44-3-4