§ 44-5-82 - Cumberland homestead exemption. - Rhode Island Statutes

SECTION 44-5-82

   § 44-5-82  Cumberland homestead exemption.– (a) The town council of the town of Cumberland is authorized to annually fixthe amount, if any, of a homestead exemption with respect to assessed valuefrom local taxation on taxable real property used for residential purposes ormixed purposes, defined as a combination of residential and commercial uses, inthe town of Cumberland and to grant homestead exemptions to the owner or ownersof residential real estate or combination residential and commercial realestate in an amount not to exceed thirty percent (30%) of the assessed value.The exemption shall apply to property used exclusively for residentialpurposes, and improved with a dwelling containing less than five (5) units orreal property used for a combination of residential and commercial uses. Whenreal property is used for mixed purposes, the percentage of the assessed valueshall be a prorated amount. The prorated amount shall be the percentage ofsquare feet of the parcel used for residential purposes multiplied by thepercentage of the homestead exemption. In order to determine compliance withthe homestead exemption as outlined in this subsection, the town council shallprovide, by resolution or ordinance, rules and regulations governingeligibility for the exemption established by this section.

   (b) The town council of the town of Cumberland may providefor a proration of the homestead exemption in cases where title to propertypasses from those not entitled to claim an exemption to those who are entitledto claim an exemption.