The bill amends Section 44-3-4 of the General Laws in Chapter 44-3, focusing on veterans' property tax exemptions. It introduces a new subsection titled "Veterans exemptions," which allows municipalities to provide by ordinance that an exemption granted pursuant to this section may be transferred, applied, or prorated when a veteran sells property subject to the exemption and purchases another property. This prorated exemption would apply for the remainder of the tax year for the subsequently purchased property in accordance with the provisions of any veterans exemption in effect in the municipality of the new property.

The bill also maintains existing provisions for tax exemptions for veterans who served in specified conflicts, including World War I, World War II, and the Korean conflict. Eligible veterans or their unmarried widows or widowers can receive a tax exemption of up to $1,000, with specific amounts varying by municipality. Additionally, it provides exemptions for veterans with disabilities, allowing for a $10,000 exemption for those deemed totally disabled by the Veterans Administration, and includes provisions for further exemptions for prisoners of war.

The act is set to take effect upon passage.

Statutes affected:
8485: 44-3-4