2015 Rhode Island General Laws
Title 44 - Taxation
Chapter 44-5 - Levy and Assessment of Local Taxes
Section 44-5-60 - North Providence – Homestead exemptions.

§ 44-5-60 North Providence – Homestead exemptions. – (a) The mayor, upon approval of the town council of the town of North Providence, is authorized to annually fix the amount, if any, of homestead exemption with respect to assessed value from local taxation on taxable real property used for residential purposes in the town of North Providence and to grant homestead exemptions to the owner or owners of residential real estate in an amount not to exceed twenty percent (20%) of the assessed value. The exemption only applies to class 3 residential property as defined in § 44-5-57 improved with a dwelling house whose owner is a resident of North Providence and who occupies the property as his or her principal residence. The dwelling house shall consist of no more than five (5) dwelling units. In order to determine compliance with the homestead exemption as outlined in this subsection, 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 exemption is void for that portion of the year following the sale or transfer and the buyer or transferee is liable to the town of North Providence for any tax benefit received after the sale or transfer; provided, that there is a homestead exemption for owner occupied residential and commercial mixed-use (class 5) real estate in an amount not to exceed ten percent (10%) of the assessed value.

History of Section.
(P.L. 1995, ch. 46, § 1; P.L. 1997, ch. 249, § 1.)