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§ 44-3-15.5. Lincoln — Tax credit for persons over the age of 65 years.
Notwithstanding any provisions of this chapter or any provision of the general or public laws to the contrary, the town council of the town of Lincoln may, by ordinance, provide that any real property owned and occupied for a period of five (5) years or more by any person over the age of sixty-five (65) shall be eligible for a credit against their owner occupied residential property in an amount calculated in conformity with the following guidelines.
(1) Measurement of Income. The income to be used shall be as has or would be reported on State Form RI-1040H (RI Property Tax Relief Claim) as "Total 20XX Household Income."
(2) Calculation of Credit. The annual credit to be applied shall be as determined by the following income thresholds and credit amounts:
Total Household | Age | Age | Age | Age |
65 to 70 | 71 to 75 | 76 to 80 | 81 and Over | |
$25,000 and above | $600 | $600 | $600 | $600 |
$20,000 to $24,999 | $700 | $800 | $900 | $1,000 |
$17,500 to $19,999 | $800 | $900 | $1,000 | $1,100 |
$15,000 to $17,999 | $900 | $1,000 | $1,100 | $1,200 |
$14,999 and below | $1,000 | $1,100 | $1,200 | $1,300 |
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