Rhode Island Authorizes Homestead Exemption for Little Compton

The Rhode Island Legislature passed a law amending the local tax laws to authorize the Little Compton town council to establish annual homestead exemptions for residential properties, initially set at 10 percent of the mean assessed value, with subsequent adjustments permitted between 5 and 15 percent. The law takes effect upon passage. [H.B. 7047, enacted 04/10/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.