§ 44-5-75 - Woonsocket – Homestead exemption. - Rhode Island Statutes

SECTION 44-5-75

   § 44-5-75  Woonsocket – Homesteadexemption. – (a) The mayor, upon approval of the city council of the city of Woonsocket, isauthorized to annually fix the amount, if any, of a homestead exemption withrespect to assessed value from local taxation on taxable real property used forresidential purposes in the city of Woonsocket and to grant homesteadexemptions to the owner(s) of that residential real estate in amounts not toexceed the following percentages:

   (1) Single family and condominiums: forty-five percent (45%)exemption;

   (2) Two (2) family: twenty-five percent (25%) exemption;

   (3) Three (3) family: fifteen percent (15%) exemption;

   (4) Four (4) to ten (10) family: no homestead exemption.

   (b) Any homestead exemption only applies to residentialproperty improved with a dwelling house. There shall be no homestead exemptiongranted for vacant land or for the residential portion of mixed-use property inthe city of Woonsocket, regardless of the number of units used for residentialpurposes. In order to determine compliance with the homestead exemption asoutlined in this section, the city council shall provide, by resolution orordinance, rules and regulations governing eligibility for the exemptionestablished by this section.

   (c) The city council of the city of Woonsocket may providefor a proration of the homestead exemption in cases where title to propertypasses from those not entitled to the exemption to those who are entitled toclaim the exemption.