The bill amends Section 44-5-20.02 of the General Laws in Chapter 44-5, which pertains to the classification and assessment of property taxes in Central Falls. It defines Class 5 property to include the commercial portion of mixed-use properties. The bill also clarifies that Class 5 includes property used commercially, including the commercial portion of properties for mixed use as residential and commercial properties or for industrial manufacturing.

Additionally, the bill 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 present at the passage of 44-5-12.2. The previous variable rate structure for Class 3 is replaced by this fixed rate. This act will take effect upon its passage.

Statutes affected:
6123: 44-5-20.02
6123  SUB A: 44-5-20.02
6123  SUB A as amended: 44-5-20.02