This bill amends Section 45-2-2 of the General Laws to give towns and cities the power to tax property. It allows towns and cities to raise money through a tax on real or personal estate to pay off debts or cover expenses. The bill also introduces a new provision that imposes a vacancy tax of one percent on the assessed value of all real property for vacant units. This tax would be assessed by the city or town. The bill will take effect upon passage.
Statutes affected: 884: 45-2-2