Tiverton's town council may create a property-tax credit for residents over 65 who own and occupy local property, after they apply to the tax assessor.
Tiverton may let residents over 65 who own and occupy local real property apply for an annual tax credit of up to $10,000 of property value.
The Tiverton town council may create a property-tax credit for eligible residents through an ordinance. The credit covers real property in Tiverton that is owned and occupied by a person over age 65. The credit may not exceed $10,000 of property value. An applicant must submit an application to the tax assessor. The credit must be applied uniformly without considering the applicant's ability to pay. Only one credit may be granted for co-owners, joint tenants, or tenants by the entirety, even if more than one owner qualifies. The act states that this provision takes effect upon passage.
No hearings or votes scheduled.