Increases the income range up to fifty thousand dollars ($50,000) and tax credit up to eight hundred fifty dollars ($850), for elderly and disabled persons who own or rent their homes.

Rhode Island Property Tax Relief Bill Summary

This bill would expand an existing Rhode Island tax relief program that helps elderly and disabled residents with their housing costs. Currently, the program has income and benefit limits that this bill proposes to increase. Specifically, it would raise the income ceiling to $50,000 per year, meaning more people would qualify for the program, and it would increase the maximum tax credit to $850, meaning those who do qualify could receive more financial help.

The people directly affected by this bill are elderly and disabled Rhode Islanders who either own their home or rent one. Both homeowners and renters are eligible, which makes this program broader than typical property tax relief efforts. If passed, residents in this group who earn up to $50,000 annually could apply for a credit of up to $850 to help offset the cost of property taxes or rent that covers property taxes.

This bill was introduced in the Rhode Island House of Representatives and has been sent to the House Finance Committee, where it will be reviewed before any further action. It has not yet been voted on or signed into law. If it ultimately passes, it would put more money back in the pockets of lower- and moderate-income seniors and disabled residents, helping them manage the cost of staying in their homes.