The bill amends Section 44-5-20.02 of the General Laws in Chapter 44-5, which pertains to the levy and assessment of local taxes in Central Falls. It defines Class 5 property to include the commercial portion of mixed-use properties. The bill also clarifies that Class 2 property includes the residential portion of mixed-use properties. Additionally, it establishes a fixed tax rate for Class 3 property at thirty-eight dollars and thirty-three cents ($38.33) per one thousand dollars ($1,000), maintaining the rate that was in effect at the passage of 44-5-12.2.

The bill removes previous provisions that set maximum tax rate multipliers for Classes 2, 5, and 3 in relation to Class 1, thereby streamlining the tax rate structure. This act will take effect upon its passage.

Statutes affected:
675: 44-5-20.02
675  SUB A: 44-5-20.02