Provides an exemption for non-insulated, non-winterized property used by the taxpayer, not located in a substandard area, and continuously owned by the taxpayer for twenty-five (25) years.

Plain-English Summary

This bill would create a special tax exemption for certain property owners in Rhode Island. Specifically, it targets people who own non-insulated, non-winterized properties — think seasonal cabins, beach cottages, or similar structures that aren't fully equipped for year-round living. To qualify for the exemption, the owner must personally use the property (not rent it out), the property cannot be located in an area officially designated as "substandard," and the owner must have continuously owned it for at least 25 years.

Under Rhode Island's Non-Owner Occupied Property Tax Act, properties that are not someone's primary residence can be subject to higher tax rates or different tax treatment. This bill would carve out an exception so that longtime owners of these modest, seasonal-type properties would not face those higher tax burdens. Essentially, it rewards long-term ownership of simpler, unimproved properties that the owner uses personally.

The people most directly affected would be Rhode Islanders who have held onto a seasonal or unimproved property — such as a summer camp or cottage — for 25 or more years and use it themselves. This could provide meaningful financial relief for families who have owned such properties for generations but may struggle with increasing property tax bills. Property owners in areas designated as substandard, or those who rent out their properties, would not be eligible for this exemption.

The bill has been introduced and referred to the Senate Finance Committee, where it will be reviewed before any further action is taken.