2017 Rhode Island General Laws
Title 44 - Taxation
Chapter 44-5 - Levy and Assessment of Local Taxes
Section 44-5-85 - Narragansett homestead exemption. [Effective until August 1, 2018.].
§ 44-5-85. Narragansett homestead exemption. [Effective until August 1, 2018.].
The town council of the town of Narragansett 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 Narragansett, 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.
History of Section.
(P.L. 2016, ch. 88, § 1; P.L. 2016, ch. 201, § 1.)
