(a)  For the city’s fiscal year 2014-2015 and thereafter, the budget commission for the city of Woonsocket, or any individual or body authorized by law to take such action, is authorized to annually fix the amount, if any, of a real estate tax exemption for Woonsocket residents based on age upon such terms and conditions as it deems reasonable. Exemption rates may be tiered based upon income level.

Terms Used In Rhode Island General Laws 44-5-74.5

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10

(b)  Any such exemption shall only apply to residential property owned and occupied by the applicant.

History of Section.
P.L. 2014, ch. 271, § 1; P.L. 2014, ch. 334, § 1.