2025 -- S 1007

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LC002838

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2025

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A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

     Introduced By: Senators Gu, and E Morgan

     Date Introduced: May 02, 2025

     Referred To: Senate Housing & Municipal Government

     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. Charlestown homestead exemption.

     (a) The town council of the town of Charlestown 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 Charlestown, 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 Charlestown,

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.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

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     This act would grant the town council of the town of Charlestown the authority to enact a

homestead exemption ordinance.

     This act would take effect on December 31, 2025.

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LC002838

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