Sen. Michael J. McCaffrey (D-Dist. 29, Warwick) has introduced legislation allowing the Warwick City Council to double the tax break for veterans.
“Our veterans don’t receive enough credit for what they did to protect Rhode Island and our country,” McCaffrey said in a statement. “While my colleagues and I are working to remedy a slow-moving economic recovery, I realize that a lot of our veterans have fallen on tough times and need assistance. A lot of people are still taking a financial hit from the recession, so I’m hoping this legislation will allow the City Council more freedom to ease that burden on some of our bravest men and women. These are the people who put themselves on the front lines to defend our freedom. We must always remember what they sacrificed for us.”
The bill (2013-S 0673) would enable the City Council of Warwick to provide a real and personal property tax exemption of up to $4,000 for veterans living in the city. Currently, the council is allowed to create a similar tax exemption for up to $2,000. City Tax Assessor Ken Mallette said the exemption would cost taxpayers an additional $320,000 a year in lost tax revenues.
Introduced in March, the legislation has been referred to the Senate Committee on Finance.