Levy and Assessment of Local Taxes

SECTION 44-5-60.1

§ 44-5-60.1. Johnston – Homestead exemptions. [Effective until August 1, 2018.].

(a) The mayor of the town of Johnston, upon approval of the town council, is authorized to annually fix the amount, if any, of homestead exemption with respect to assessed value from local taxation on taxable real property used for residential purposes in the town of Johnston and to grant homestead exemptions to the owner(s) of that residential real estate in an amount not to exceed twenty percent (20%) of the assessed value. That exemption only applies to class 3 residential property as defined in § 44-5-57 improved with a dwelling house whose owner is a resident of Johnston and who occupies the property as his or her principal residence. The dwelling house shall consist of no more than five (5) dwelling units. In order to determine compliance with the homestead exemption as outlined in this section, the town council shall provide, by resolution or ordinance, rules and regulations governing eligibility for the exemption established by this section.

(b) In the event property granted an exemption under this section is sold or transferred during the year for which the exemption is claimed, the exemption is void for that portion of the year following the sale or transfer, and the buyer or transferee shall be liable to the town of Johnston for any tax benefit received after the sale or transfer. Provided, that there shall be a homestead exemption for owner-occupied residential and commercial mixed-use (class 5) real estate in an amount not to exceed ten percent (10%) of the assessed value.

History of Section.
(P.L. 2000, ch. 36, § 1.)