Rhode Island H7151 allows Jamestown to expand local tax exemptions for seniors.

Rhode Island H7151 authorizes the town of Jamestown to expand its local tax exemption ordinance for seniors. The bill specifies that seniors must have been residents of Jamestown for five years to qualify. It outlines income thresholds for different levels of tax exemption, ranging from 10% to 60% of the assessment cap or assessed valuation. The bill also details what constitutes "income" and "due evidence" for exemption purposes, and it clarifies that exemptions terminate upon property conveyance, death, or relocation. The act takes effect upon passage.

Rhode Island H7151 allows Jamestown to expand local tax exemptions for seniors.

Rhode Island H7151 authorizes the town of Jamestown to expand its local tax exemption ordinance for seniors. The bill specifies that seniors must have been residents of Jamestown for five years to qualify. It outlines income thresholds for different levels of tax exemption, ranging from 10% to 60% of the assessment cap or assessed valuation. The bill also details what constitutes "income" and "due evidence" for exemption purposes, and it clarifies that exemptions terminate upon property conveyance, death, or relocation. The act takes effect upon passage.