Bill > H6363

This bill allows the town of Tiverton to implement a more flexible property tax system by authorizing its assessor to apply different tax rates to distinct property classes while maintaining uniform rates within each class. The bill defines five property classes: (1) residential real estate with up to five dwelling units, open space land, and dwellings on leased land (with potential for a homestead exemption or separate rates for owner-occupied versus non-owner-occupied properties), (2) commercial and industrial real estate and multi-unit residential properties, (3) tangible personal property, (4) motor vehicles and trailers (though this class references a repealed excise tax), and (5) mobile homes on leased land. This classification system enables the town to customize its tax approach, potentially providing tax relief for certain property types or addressing local economic and housing considerations. The bill would take effect immediately upon passage, granting Tiverton immediate authority to implement these new tax classification rules.

Housing and Urban Affairs

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