The Rhode Island Senate has approved legislation that would expand property tax relief for senior residents of Jamestown, sending the bill to Gov. Daniel McKee for consideration.
The bill, sponsored by Sen. Dawn Euer (D-Dist. 13, Newport, Jamestown), extends Jamestown’s existing sliding-scale property tax exemption program for seniors to include those with incomes between 220% and 240% of the federal poverty guideline, who would qualify for a 10% exemption on their assessed valuation.
Jamestown currently offers property tax relief to seniors with incomes under 220% of the federal poverty guideline, with larger exemptions available to those with lower incomes — up to 60% for those earning below 140% of the poverty level.
“Property tax relief is an important tool for municipalities to help seniors on fixed incomes avoid being priced out of their homes by rising costs,” Euer said in a statement. “I will continue to support the Town Council’s efforts to prevent residents from being priced off the island.”
Companion legislation in the House, sponsored by Rep. Alex S. Finkelman (D-Dist. 74, Jamestown, Middletown), passed Feb. 3. Both bills would take effect upon passage.