Bill > H6320

This bill modifies the property tax classification rules for the city of Warwick, Rhode Island by eliminating the previous requirement that Class 1 property tax rates must be at least 57% of Class 2 property tax rates. Currently, the law allows the city assessor to apply different tax rates to different property classes, but the bill would require that the tax rates for Class 1 (typically residential properties) and Class 2 (typically commercial properties) be uniform and set to the same percentage. The bill will take effect immediately upon passage and will apply retroactively to the December 31, 2024 property assessment, meaning property owners in Warwick will be subject to a new, equalized tax rate for these two property classes starting with that assessment year. This change could potentially impact property tax burdens for different types of property owners in Warwick, depending on how the new uniform rate is ultimately set.

Housing and Urban Affairs

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