Chapter 201

2016 -- S 2188 AS AMENDED Enacted 06/29/2016

A N   A C T

RELATING TO TAXATION -- HOMESTEAD EXEMPTION IN THE TOWN OF NARRAGANSETT

Introduced By: Senators Sheehan, Picard, Pichardo, Lombardo, and Lombardi

Date Introduced: January 27, 2016

It is enacted by the General Assembly as follows:

SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local

Taxes" is hereby amended by adding thereto the following section:

44-5-85. Narragansett homestead exemption. -- The town council of the town of

Narragansett is authorized to annually fix the amount, if any, of a homestead exemption, with

respect to assessed value, from local taxation on taxable real property used for residential

purposes or mixed purposes, defined as a combination of residential and commercial uses, in the

town of Narragansett, and to grant homestead exemptions to the owner, or owners, of residential

real estate or combination residential and commercial real estate, in an amount not to exceed ten

percent (10%) of the assessed value. The exemption shall apply to property used exclusively for

residential purposes, and improved with a dwelling containing less than five (5) units, or real

property used for a combination of residential and commercial uses. When real property is used

for mixed purposes, the percentage of the assessed value shall be a prorated amount. The prorated

amount shall be the percentage of square feet of the parcel used for residential purposes

multiplied by the percentage of the homestead exemption. In order to determine compliance with

the homestead exemption as outlined in this section, the town council shall provide, by resolution

or ordinance, rules and regulations governing eligibility for the exemption established by this

section.

SECTION 2. This act shall take effect on December 31, 2016.

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LC003738

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