The bill amends Section 44-5-8.1 of the General Laws in Chapter 44-5, which pertains to the levy and assessment of local taxes. It introduces a new provision that allows cities and towns to waive interest on overdue quarterly tax payments for both residential and commercial properties. The property must be the residence or commercial property of the taxpayer for at least five years prior to the overdue payment. The taxpayer must also have a history of timely tax payments for the previous five years, and the overdue bill must have been issued less than two years before the waiver request. Additionally, the waiver of interest cannot exceed $500.

The bill stipulates that decisions made by the tax collector regarding the waiver must be documented in writing and communicated to the city or town council. If a taxpayer receives an unfavorable decision, they are required to pay the interest but can file a claim for reimbursement with the council within ten days. This act is designed to provide relief to taxpayers facing overdue payments and will take effect upon passage.

Statutes affected:
2453: 44-5-8.1