AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION

Summary

The Senate passed a bill that rewrites the state’s definition of taxable property, adding dozens of new categories that are now exempt from local property taxes. It covers state and federal lands, military‑use real estate, schools, religious dwellings, charitable organizations, veteran groups, volunteer emergency services, household goods, nuclear fallout shelters, certain aircraft, manufacturer inventory, pollution‑control facilities, manufacturing equipment, precious‑metal bullion, hydroelectric gear, open‑space conservation, recycling/treatment equipment, motorboats, and several specific nonprofit corporations, plus the Blackstone Valley Advocacy Center. The changes take effect immediately, reducing tax revenue for municipalities while providing relief to the listed owners.

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