It is enacted by the General Assembly as follows:
SECTION 1. Section 44-3-16 of the General Laws in Chapter 44-3 entitled "Property Subject to Taxation" is hereby amended to read as follows:
44-3-16. Freeze of tax rate and valuation for the elderly. -- (a) * * *
(b)(1) The town council of the town of West Warwick may
provide by ordinance for a schedule of exemptions from the
assessed valuation on real property located therein for any
person who is sixty-five (65) years or older or to any person who
is totally and permanently disabled regardless of age, which said
exemption schedule shall be based upon {ADD gross ADD} annual
adjusted gross income {ADD from all sources ADD} as defined for
federal income tax purposes as follows:
(i) An exemption of $10,000 for those having an adjusted
gross {ADD annual ADD} income {ADD from all sources ADD} of 0 to $7,000;
(ii) An exemption of $8,000 for those having an adjusted
gross {ADD annual ADD} income {ADD from all sources ADD} of $7,001 to $9,000;
(iii) An exemption of $6,000 for those having an
adjusted gross {ADD annual ADD} income {ADD from all sources ADD} of $9,001
to $11,000;
(iv) An exemption of $4,000 for those having an adjusted
gross {ADD annual ADD} income {ADD from all sources ADD} of $11,001 to
$13,000;
(v) And an exemption of $3,000 for those having an
adjusted gross {ADD annual ADD} income {ADD from all sources ADD} from
$13,001 to $15,000;
(2) Provided, however that the exemption schedule shall apply only to single family dwellings in which the person resides; provided further, the person acquired the property for actual consideration paid or inherited the property; provided further, the person has resided in the town of West Warwick for a period of three (3) years ending with the date of assessment for the year for which exemption is claimed; and provided further, that such exemption shall not be allowed unless the person entitled thereto shall have presented to the assessors, on or before the last day on which sworn statements may be filed with the tax assessor for the year for which the foregoing is claimed, due evidence that he or she is so entitled, which evidence shall stand as long as his or her residence remains unchanged. In the case of married persons the age requirement will be met as soon as either the husband or wife reaches the age of sixty-five (65) years and in the event the husband passes away a widow sixty-two (62) years of age to sixty-five (65) years of age will be allowed the exemption as long as she remains unmarried.
(3) Those persons granted tax relief under chapter 255 of the Public Laws of 1972 will have the option of retaining their current tax freeze or abandoning it to seek relief under this subsection.
(c) * * *(i)
SECTION 2. This act shall take effect upon passage.
