Establishes a property tax deferral program for senior citizens, disabled persons or veterans.

Rhode Island Property Tax Deferral Program for Seniors, Disabled Persons, and Veterans

This bill would create a program in Rhode Island that allows certain homeowners to delay paying their property taxes rather than paying them on the usual schedule. Instead of requiring full payment by the normal deadline, the program would let eligible residents put off those payments until a later time — such as when they sell their home or it transfers ownership. The idea is to give qualifying homeowners more financial breathing room by not forcing them to come up with a large tax payment each year.

The program would apply to three specific groups: senior citizens, people with disabilities, and veterans. To participate, homeowners in these groups would need to meet certain eligibility requirements. The deferred taxes would not simply disappear — they would be owed at a future date, likely with some interest, and would typically be repaid from the home's value when it is eventually sold or passed on.

This bill would directly affect eligible Rhode Island homeowners who may be on fixed incomes or facing financial hardship, helping them stay in their homes without the immediate burden of annual property tax bills. Local governments would still eventually receive the tax money owed, just on a delayed timeline. The bill has been introduced and sent to the Senate Finance Committee, where it will be reviewed before any further action is taken.