Bill > H6362

This bill provides a special one-year exemption to the standard property tax levy cap for the town of Little Compton for fiscal year 2026, allowing the town to increase its tax levy by up to 12% instead of the usual 4% cap that applies to most Rhode Island municipalities. Currently, Rhode Island law restricts cities and towns from increasing their property tax levy by more than 4% each year, with some exceptions for emergencies, debt service, or revenue losses. This bill creates a specific exception for Little Compton, permitting the town to exceed the standard levy cap, but requires approval from the town's Financial Town Meeting. The proposed change would be a temporary provision only applicable for the 2026 fiscal year, after which the town would return to the standard 4% levy cap. The bill is straightforward in its intent to provide the town of Little Compton with additional fiscal flexibility for a single budget year, subject to local democratic approval through the town meeting process.

Housing and Urban Affairs

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