This bill amends the property tax classification system for the city of Pawtucket by updating the definitions and classifications of taxable properties. Specifically, it raises the threshold for Class 1 properties from five dwelling units to six, provided that at least one unit is owner-occupied. Additionally, it establishes a new Class 5, which includes all residential real estate consisting of not more than five dwelling units where no units are owner-occupied. The bill clarifies that mobile and manufactured homes are included in both classifications based on their occupancy status.

Furthermore, the bill provides that the rate of taxation shall be uniform within each class. It specifies that the tax rates for Class 2 properties and Class 5 properties shall not exceed 175% of the tax rates for Class 1 properties. The changes will take effect upon passage.