Bill > S2040

This bill authorizes the town of Bristol to apply the owner-occupied tax rate to mixed-use properties, meaning properties that have both residential and commercial or business uses, as long as the residential portion is occupied by the owner. This change is made to an existing law (Section 44-5-11.8 of the General Laws) that allows cities and towns to classify different types of property for tax purposes, with specific rules about how tax rates can differ between these classes. The bill specifically amends the definition of Class 1 property (residential real estate) to include these mixed-use properties in Bristol where the residential part is owner-occupied, allowing them to potentially benefit from a lower tax rate typically applied to owner-occupied homes. This act will become effective immediately upon its passage.

Housing and Urban Affairs

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