The bill amends Section 44-5-67.2 of the General Laws in Chapter 44-5, which pertains to the levy and assessment of local taxes in Warwick. It introduces new language that specifies the duties of the city assessor, who is required to conduct a full and fair cash valuation of all taxable property by June 15 each year. The bill provides that the rate of taxation is uniform within each class of property. It removes the previous requirement that Class 1 property tax rates must be at least fifty-seven percent of Class 2 property tax rates, thereby allowing for uniform tax rates across these classes.

Additionally, the act stipulates that the tax rates for Class 1 and Class 2 properties must be uniform and set to the same percentage. This change aims to simplify the taxation process and ensure equity among property classes. The bill is set to take effect upon passage and will be applied retroactively to the assessment dated December 31, 2024.

Statutes affected:
1097: 44-5-67.2