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Rhode IslandS20412026 Regular SessionSenateWALLET

AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES .

Sponsored By: Louis P. DiPalma (Democratic)

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Little Compton homestead tax break

Little Compton sets a homestead exemption that lowers your home’s taxable value. In the first fiscal year, the exemption is 10% of the town’s mean assessed value. Each year after, the town can set it between 5% and 15% by vote. Your yearly tax savings equal the exemption amount times the town tax rate.

How Little Compton homeowners qualify

If you own and live in your Little Compton home and are registered to vote there, you get the exemption automatically. If you are not registered, apply on the assessor’s form and show a Rhode Island ID and a utility bill with your name and Little Compton address. To count as a resident, your main home must be in Little Compton and you must live there more than six months a year.

Second and rental homes can qualify

If you own more than one home in Little Compton, you can also claim the exemption on a second home. A home you rent out can qualify if the lease is at least 12 months and the tenant is a full-time resident. After approval, the rent must stay the same at the start of the next 12-month lease term. Use the assessor’s form and attach the lease and any required tenant information.

Sponsors & Cosponsors

Sponsor

  • Louis P. DiPalma

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 98 • No: 0

House vote • 4/2/2026

LEVY & ASSESSMENT OF LOCAL TAXES PASSAGE IN CONCURRENCE

Yes: 63 • No: 0

Senate vote • 3/10/2026

RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES Passage

Yes: 35 • No: 0

Actions Timeline

  1. Effective without Governor's signature — Chapter 012

    4/10/2026Governor

  2. Transmitted to Governor

    4/2/2026Governor

  3. House passed in concurrence

    4/2/2026House

  4. Placed on the House Consent Calendar (04/02/2026)

    3/27/2026House

  5. Committee recommends passage in concurrence

    3/24/2026

  6. Scheduled for consideration (03/24/2026)

    3/20/2026

  7. Referred to House Municipal Government & Housing

    3/11/2026House

  8. Senate read and passed

    3/10/2026Senate

  9. Placed on Senate Calendar (03/10/2026)

    3/6/2026Senate

  10. Committee recommends passage

    3/5/2026

  11. Scheduled for hearing and/or consideration (03/05/2026)

    2/27/2026

  12. Introduced, referred to Senate Housing and Municipal Government

    1/9/2026Senate

Bill Text

  • S2041 - As Introduced

    1/9/2026

    HTMLPDF

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