RI H7567

Allows senior citizens (age 62+), disabled citizens (per Social Security Administration), and disabled veterans (per VA) to defer property taxes on owner-occupied single-family homes until death, transfer, or sale of the property

Deferred taxes become a lien against the property with 6% annual interest accruing, added to the final tax bill upon disposition

Properties with reverse mortgages or less than 20% equity are ineligible; properties with taxes paid through escrow accounts are also excluded

Rhode Island General Treasurer's office establishes program requirements and verification procedures; tax collectors must certify deferral claims to the director of finance by January 31 annually

Appropriates $2,000,000 annually beginning fiscal year 2027 to fund the deferral program, administered by the General Treasurer's office