AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION
Effective without Governor's signature
Summary
The Senate bill revises Section 44‑3‑3 of the General Laws to broaden the list of properties that are exempt from local property taxes. It adds new categories – such as military‑use real estate, manufacturer inventory, renewable‑energy equipment, pollution‑control facilities, and a long list of named nonprofit organizations and sites – and sets valuation rules for for‑profit hospitals. The changes aim to reduce tax burdens on qualifying groups while giving municipalities limited authority to grant additional exemptions.
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