The bill amends Section 44-5-11.8 of the General Laws in Chapter 44-5, titled "Levy and Assessment of Local Taxes," to allow for changes in tax classification plans by local municipalities. The amendment includes a new subsection (j), which specifically allows the town council of Bristol to adopt, by ordinance, a tax classification plan in accordance with the provisions of subsections (a) and (b) of this section. This plan would be applicable to taxes assessed on or after December 31, 2023. Furthermore, the Bristol town council is granted the authority to adopt, repeal, or modify this tax classification plan for any tax year thereafter, notwithstanding the provisions of subsection (a).

The bill outlines the limitations and conditions under which cities and towns may adopt tax classification plans, including the setting of tax rates for different classes of property and the application of rate changes. It also specifies the classes of property that can be designated for different tax rates and provides exceptions for certain towns and cities, including Providence, Glocester, East Greenwich, Middletown, Little Compton, Scituate, Coventry, and now Bristol. The act would take effect upon passage, allowing the town of Bristol to provide property tax relief to its residents starting from the specified assessment date.

Statutes affected:
787: 44-5-11.8