The bill amends Section 44-5-8.1 of the General Laws in Chapter 44-5, introducing a new provision that allows cities and towns to waive interest on overdue quarterly property tax payments for both residential and commercial properties. The waiver can be granted for one quarter of overdue payments if the taxpayer has made timely payments for the previous five years. The request for a waiver must be submitted in writing, and the overdue bill must have been issued within the last two years. The maximum waiver amount is capped at $500.

Additionally, the bill requires that decisions made by the tax collector regarding the waiver be documented in writing and communicated to the city or town council. If a taxpayer receives an unfavorable decision, they are required to pay the interest but may file a claim for reimbursement with the council within ten days. This act is designed to provide financial relief to taxpayers by allowing for the waiver of interest on overdue taxes for both residential and commercial properties, and it will take effect upon passage.

Statutes affected:
5269: 44-5-8.1