Rhode Island H8025 allows the town of Tiverton to offer a real estate tax credit for seniors over 65.

Rhode Island H8025 amends the General Laws to allow the town of Tiverton to authorize a real estate tax credit for seniors over the age of sixty-five. The credit amount varies by fiscal year, starting at $800 for 2025, increasing to $900 for 2026, and reaching $1,000 for 2027 and beyond. This credit is in addition to any other exemptions or credits the senior may be entitled to. The exemption applies uniformly and without regard to the senior's ability to pay. Only one exemption is granted to cotenants, joint tenants, and tenants by the entirety, regardless of their individual ages.

Rhode Island H8025 allows the town of Tiverton to offer a real estate tax credit for seniors over 65.

Rhode Island H8025 amends the General Laws to allow the town of Tiverton to authorize a real estate tax credit for seniors over the age of sixty-five. The credit amount varies by fiscal year, starting at $800 for 2025, increasing to $900 for 2026, and reaching $1,000 for 2027 and beyond. This credit is in addition to any other exemptions or credits the senior may be entitled to. The exemption applies uniformly and without regard to the senior's ability to pay. Only one exemption is granted to cotenants, joint tenants, and tenants by the entirety, regardless of their individual ages.