PROVIDENCE – A bill approved by the R.I. General Assembly will increase the tax exemption for owner-occupied homes in Central Falls, a move that was requested by city officials.
The measure’s sponsor, Sen. Daniel J. Issa, D-Central Falls, Cumberland and Pawtucket, said in a statement this week that action was “swift” on the measure, “which was requested by the City Council just one week ago.”
The bill – An Act Relating to Taxation: Property Subject to Taxation, 2008-S 3122, introduced June 17 – was approved by the Senate on June 19 and the House on June 21.
The new law will bump up tax exemptions for single-family, owner-occupied homes in Central Falls by 33.3 percent: to $60,000 from the previous $45,000.
“This increase will continue to encourage owner-occupied homes in Central Falls – and it will especially be beneficial to the city’s elderly homeowners, who might not otherwise be able to remain in the city and home they love,” said Issa, who filed the measure at the request of the Central Falls City Council.
Other exemptions in the city will remain the same: $5,000 for a two-family home, and $3,000 for multi-family or commercial units. “This is about helping to keep homeowners in their homes, in their city,” Issa said.
Additional news and information from the R.I. General Assembly is available at www.rilin.state.ri.us.
