AN ACT RELATING TO TAXATION -- LEVY AND ASSESSMENT OF LOCAL TAXES

Summary

The bill lets any Rhode Island city or town, by local ordinance, waive interest on a single quarter’s overdue property tax if the taxpayer’s residence or commercial property has been owned for five years, the taxpayer has a clean five‑year payment history, and the bill is less than two years old. The waiver is limited to $500 and must be granted automatically when the criteria are met. This provides relief to taxpayers who fall behind temporarily while ensuring municipalities retain the principal tax revenue.

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