2003 -- S 1103 SUBSTITUTE A
RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION
Introduced By: Senator June N. Gibbs
Date Introduced: May 28, 2003
It is enacted by the General Assembly as follows:
SECTION 1. Section 44-3-39 of the General Laws in Chapter 44-3 entitled "Property
Subject to Taxation" is hereby amended to read as follows:
44-3-39. Exemption of persons over the age of 65 -- Middletown. -- Notwithstanding
any other provisions of a general or special law to the contrary, the town council of the town of
Middletown is authorized to fix, by ordinance or resolution, the amount of the exemptions with
respect to the assessed value from local taxation on taxable real property situated in the town,
owned and occupied by any person over the age of sixty-five (65) years, whether the real property
is income-producing or not
an amount not to exceed twenty thousand dollars ($20,000) of claimed income of the person or
persons who own and occupy the premises.
Said exemption shall be available to persons over sixty-five (65) years of age who own
and occupy the subject property. Said exemption shall not be less than twenty-two thousand five
hundred dollars ($22,500) of assessed value for all qualifying property owners regardless of
income and shall not exceed sixty-two thousand dollars ($62,000) of assessed value for qualified
property owners who have claimed income of less than thirty thousand dollars ($30,000),
(maximum income limit). Provided, however, that said maximum income limit shall increase
annually based upon the Consumer Price Index calculated utilizing the average of: U.S. City
Average; Northeast Urban Cities and Boston Metropolitan figures for September of each year.
SECTION 2. This act shall take effect upon passage.