Rhode Island Amends Tax Law on Property Tax Classification to Include Bristol

The Rhode Island General Assembly passed a law that amends Chapter 44-5 of the General Laws, regarding the Levy and Assessment of Local Taxes, to authorize the town of Bristol to apply the owner-occupied tax rate for mixed-used properties where the residential portion is owner-occupied. The law adds the town of Bristol to municipalities exempted from the 50 percent limitation on tax rate differences between property classes. The law also clarifies that municipalities may adopt tax rates for tangible personal property up to twice the rate applicable to other classes following revaluation, provided they receive approval from the office of ...