AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES (Authorizes the town council of Little Compton to establish a homestead exemption for residential dwellings.)

S2041

2026 -- S 2041
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LC003740
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STATE OF RHODE ISLAND
IN GENERAL ASSEMBLY
JANUARY SESSION, A.D. 2026
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A N A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Introduced By:
Senator Louis P. DiPalma

Date Introduced:
January 09, 2026

Referred To:
Senate Housing & Municipal Government
It is enacted by the General Assembly as follows:
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SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local
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Taxes" is hereby amended by adding thereto the following section:
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44-5-79.1. Little Compton -- Homestead exemption.
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(a) The town council, upon approval by the financial town meeting, is authorized to
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annually fix the amount of a homestead exemption with respect to the assessed value from local
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taxation on taxable real property used for residential purposes in the town of Little Compton and
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to grant homestead exemptions to the owner(s) of those residential dwellings in percentage amounts
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as follows:
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(1) In the first year the exemption will be ten percent (10%) of the mean assessed value of
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all taxable real properties in the town of Little Compton.
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(2) In each subsequent fiscal year, the financial town meeting may, by majority vote, amend
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the percentage described in subsection (a)(1) of this section, within a range of not less than five
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percent (5%) or more than fifteen percent (15%) of the mean assessed value of all taxable real
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properties in the town of Little Compton.
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(b) All residents who own the residential dwelling in which they reside and are registered
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to vote in the town of Little Compton shall automatically qualify for the homestead exemption and
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shall not be required to file an application for the homestead exemption.
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(c) Non-registered voters who are residents of the town of Little Compton and who own
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the residential dwelling in which they reside may apply for the homestead exemption on forms

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supplied by the Little Compton tax assessor and by demonstrating residency in Little Compton with
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a Rhode Island driver’s license or other official identification and a utility bill showing the name
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and address of the resident.
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(d) Residents of Little Compton who own more than one residential dwelling located in
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Little Compton may also apply for a homestead exemption on a second residential dwelling using
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the process set forth in subsections (b) and (c) of this section.
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(e) A residential dwelling leased for at least twelve (12) months to a full-time resident may
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also be eligible for a homestead exemption so long as the rental payments remain at the same
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amount at the start of the next twelve (12) month lease cycle following the approval of the
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exemption. The Little Compton tax assessor shall supply application forms for rental property
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homestead exemptions, to be filed along with the lease agreement, and additional identifying
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information for the tenant(s) as determined by the tax assessor.
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(f) For the purposes of this section, the term "resident" means an individual whose principal
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place of residence is located within the town of Little Compton and who occupies such dwelling
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for more than six (6) months of the calendar year.
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SECTION 2. This act shall take effect upon passage.
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EXPLANATION
BY THE LEGISLATIVE COUNCIL
OF
A N A C T
RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES
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This act would authorize the town council of Little Compton to establish a homestead
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exemption for residential dwellings.
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This act would take effect upon passage.
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LC003740
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