| Chapter 012 |
| 2026 -- S 2041 Enacted 04/10/2026 |
| A N A C T |
| RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES |
Introduced By: Senator Louis P. DiPalma |
| Date Introduced: January 09, 2026 |
| 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: |
| 44-5-79.1. Little Compton -- Homestead exemption. |
| (a) The town council, upon approval by the financial town meeting, is authorized to |
| annually fix the amount of a homestead exemption with respect to the assessed value from local |
| taxation on taxable real property used for residential purposes in the town of Little Compton and |
| to grant homestead exemptions to the owner(s) of those residential dwellings in percentage amounts |
| as follows: |
| (1) In the first year the exemption will be ten percent (10%) of the mean assessed value of |
| all taxable real properties in the town of Little Compton. |
| (2) In each subsequent fiscal year, the financial town meeting may, by majority vote, amend |
| the percentage described in subsection (a)(1) of this section, within a range of not less than five |
| percent (5%) or more than fifteen percent (15%) of the mean assessed value of all taxable real |
| properties in the town of Little Compton. |
| (b) All residents who own the residential dwelling in which they reside and are registered |
| to vote in the town of Little Compton shall automatically qualify for the homestead exemption and |
| shall not be required to file an application for the homestead exemption. |
| (c) Non-registered voters who are residents of the town of Little Compton and who own |
| the residential dwelling in which they reside may apply for the homestead exemption on forms |
| supplied by the Little Compton tax assessor and by demonstrating residency in Little Compton with |
| a Rhode Island driver’s license or other official identification and a utility bill showing the name |
| and address of the resident. |
| (d) Residents of Little Compton who own more than one residential dwelling located in |
| Little Compton may also apply for a homestead exemption on a second residential dwelling using |
| the process set forth in subsections (b) and (c) of this section. |
| (e) A residential dwelling leased for at least twelve (12) months to a full-time resident may |
| also be eligible for a homestead exemption so long as the rental payments remain at the same |
| amount at the start of the next twelve-(12)month (12) lease cycle following the approval of the |
| exemption. The Little Compton tax assessor shall supply application forms for rental property |
| homestead exemptions, to be filed along with the lease agreement, and additional identifying |
| information for the tenant(s) as determined by the tax assessor. |
| (f) For the purposes of this section, the term "resident" means an individual whose principal |
| place of residence is located within the town of Little Compton and who occupies such dwelling |
| for more than six (6) months of the calendar year. |
| SECTION 2. This act shall take effect upon passage. |
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| LC003740 |
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