The bill amends the property tax classification system for the city of Pawtucket by introducing new classifications and adjusting existing ones. Specifically, it allows Pawtucket to adopt a property tax classification system that includes five classes. Class 1 is defined as residential real estate with up to six dwelling units, provided at least one unit is owner-occupied, while Class 5 is established for residential real estate with not more than five dwelling units where no units are owner-occupied. The bill also clarifies that mobile and manufactured homes are included in both classifications based on their occupancy status.

Additionally, the bill grants the finance director the authority to apply different tax rates to each property class, ensuring that the rates remain uniform within each class. It stipulates that the tax rates for Class 2 and Class 5 properties cannot exceed 175% of the tax rates for Class 1 properties. The changes aim to refine the property tax structure in Pawtucket, enhancing the classification system to better reflect the nature of the properties and their occupancy status. The act will take effect upon passage.