2025 -- S 0044

========

LC000162

========

     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2025

____________

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

     Introduced By: Senators Sosnowski, Gu, and Valverde

     Date Introduced: January 23, 2025

     Referred To: Senate Finance

     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:

     44-5-89. South Kingstown homestead exemption.

     (a) The town council of the town of South Kingstown 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 South Kingstown, 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.

     (b) In the event property granted an exemption under this section is sold or transferred

during the year for which the exemption is claimed, the town council of the town of South

Kingstown, upon approval of the town council, may provide for a proration of the homestead

exemption in cases where title to property passes from those not entitled to claim an exemption to

those who are entitled to claim an exemption.

     SECTION 2. This act shall take effect on December 31, 2025.

========

LC000162

========

LC000162 - Page 2 of 3

EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

***

     This act would grant the town council of the town of South Kingstown the authority to

enact a homestead exemption ordinance.

     This act would take effect on December 31, 2025.

========

LC000162

========

LC000162 - Page 3 of 3