§ 44-5-62 - Cranston – Homestead exemption.
SECTION 44-5-62
§ 44-5-62 Cranston – Homesteadexemption. – (a) The city council of the city of Cranston is authorized to annually fix theamount, if any, of a homestead exemption with respect to assessed value fromlocal taxation on taxable real property used for residential purposes or mixedpurposes, defined as a combination of residential and commercial uses, in thecity of Cranston and to grant homestead exemptions to the owner or owners ofresidential real estate or combination residential and commercial real estatein an amount not to exceed thirty percent (30%) of the assessed value. Theexemption only applies to property used exclusively for residential purposes,and improved with a dwelling containing less than five (5) units or realproperty used for a combination of residential and commercial uses. When realproperty is used for mixed purposes, the percentage of the assessed value shallbe a pro rated amount. That pro rated amount is the percentage of square feetused for residential purposes multiplied by thirty percent (30%). In order todetermine compliance with the homestead exemption as outlined in thissubsection, the city council shall provide, by resolution or ordinance, rulesand regulations governing eligibility for the exemption established by thissection.
(b) The city council of the city of Cranston may provide fora proration of the homestead exemption in cases where title to property passesfrom those not entitled to the exemption to those who are entitled to claim theexemption.