PROVIDENCE – Rhode Island seniors can now save up to $1,500 on their municipal property taxes in exchange for volunteering under legislation signed into law by Gov. Daniel J. McKee on Monday, according to a news release.
The new law lets property owners ages 60 and over “earn” tax credits by volunteering in the city or town where they live. Municipalities must adopt the program for residents to participate.
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McKee also on Monday signed a second piece of legislation aimed at preventing financial exploitation of seniors. The law requires financial institutions to report suspected exploitation of seniors to the R.I. Office of Healthy Aging, letting them place a temporary hold on any transaction that may be fraudulent. It also calls for financial institutions to train their workers on how to recognize and detect signs of elderly financial exploitation.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
