Chapter 233

2004 -- S 3059

Enacted 07/01/04

A N A C T

RELATING TO TAX CREDIT IN THE CITY OF WARWICK

Introduced By: Senators Revens, Walaska, McCaffrey, Roberts, and Lenihan

Date Introduced: April 27, 2004

It is enacted by the General Assembly as follows:

     SECTION 1. Section 1 of the chapter 342 of the 1995 public laws entitled “An Act

Relating to Tax Relief For The Elderly in the City of Warwick” is hereby amended to read as

follows:

     The finance director of the city of Warwick is hereby authorized to grant a real property

credit from taxation to any person, sixty-five (65) years of age or over, or to any person who is

one hundred percent (100%) disabled, who owns and occupies residential property in the city of

Warwick, on proper claim therefor on the following basis:

     For the fiscal year as noted below, the tax credit on the claimant’s homestead shall be

based on the claimant’s annual income, and shall be in accordance with the following table:

INCOME RANGE TAX CREDIT

      Tax year 1995

     $ 0-$10536 800

      1053 7-$11853 700

      11854-$13171 600

      13172-$14488 500

      14489-$15805 400

      Thereafter the tax assessor shall peg the increase of the income range and the tax credit to

the consumer price index (C.P.I.) at the beginning of each fiscal year.

      The implementation of the aforementioned shall commence with the tax revaluation year,

1997.

      Automatic rate updates under this section shall be made in five (5) year intervals yearly.

     SECTION 2. This act shall take effect upon passage.

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LC03176

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