Rhode Island General Laws Title 44. Taxation § 44-5-79.1. Little Compton--Homestead exemption

(a) The town council, upon approval by the financial town meeting, is authorized to annually fix the amount of a homestead exemption with respect to the assessed value from local taxation on taxable real property used for residential purposes in the town of Little Compton and to grant homestead exemptions to the owner(s) of those residential dwellings in percentage amounts as follows:

(b) All residents who own the residential dwelling in which they reside and are registered to vote in the town of Little Compton shall automatically qualify for the homestead exemption and shall not be required to file an application for the homestead exemption.

(c) Non-registered voters who are residents of the town of Little Compton and who own the residential dwelling in which they reside may apply for the homestead exemption on forms supplied by the Little Compton tax assessor and by demonstrating residency in Little Compton with a Rhode Island driver's license or other official identification and a utility bill showing the name and address of the resident.

(d) Residents of Little Compton who own more than one residential dwelling located in Little Compton may also apply for a homestead exemption on a second residential dwelling using the process set forth in subsections (b) and (c) of this section.

(e) A residential dwelling leased for at least twelve (12) months to a full-time resident may also be eligible for a homestead exemption so long as the rental payments remain at the same amount at the start of the next twelve-month (12) lease cycle following the approval of the exemption.  The Little Compton tax assessor shall supply application forms for rental property homestead exemptions, to be filed along with the lease agreement, and additional identifying information for the tenant(s) as determined by the tax assessor.

(f) For the purposes of this section, the term “resident” means an individual whose principal place of residence is located within the town of Little Compton and who occupies such dwelling for more than six (6) months of the calendar year.