Glocester may set property tax breaks for older, disabled owners

Glocester’s town council may offer property tax exemptions or credits by ordinance. The exemptions or credits apply to real property in Glocester owned and occupied by people who meet the town’s rules. The council decides whether to offer these tax breaks and sets their rules by ordinance. The town may set a base exemption of up to $2,070, adjusted each year for inflation, for owners age 65 or older or permanently disabled owners under 65. It may also set an additional exemption of up to $1,000 for owners age 80 or older. The town may set qualifications such as residency, ownership, income, and asset limits. It may set a minimum annual tax, and provide these exemptions alongside or instead of other exemptions. The act takes effect upon passage and applies to assessments dated December 31, 2025, and later, for tax rolls starting with fiscal year 2026–2027.

The law requires yearly inflation adjustments under this section to use the original base amount. This calculation rule applies to consumer price index adjustments under this section. Each year’s percentage change applies only to the original amount, not to an amount already increased in an earlier year. The act takes effect upon passage and applies to assessments dated December 31, 2025, and later, for tax rolls starting with fiscal year 2026–2027.